Foreigners and Institutions Continue to Pull Back on Thai Stocks with a ฿6.6Bn Selloff
The total value of buying and selling separated by the investor's type as of May 12, 2021.
– SET Index closed at 1,571.85 points, decreased 7.08 points or 0.45% with a trading value of 117 billion baht. The analyst stated that the Thai stock market opened on a negative territory in the morning session due to concerns over the inflation rate in the U.S. that is expected to rise from 2.6% in the previous month to 3.6%, which could impact its QE.
In the meantime, big-cap stocks such as TIDLOR and KBANK continued to decline. KBANK had a negative sentiment from the MSCI rebalancing that deleted Kasikornbank FGN, a security listed in Frankfurt, from the MSCI Global Standard, resulting in a selloff in KBANK.
However, the distortion in DELTA erased around 10 points deficit in the stock market today after gaining Bt94.00 per share or 20.26% in today’s session.
The analyst expected SET to continue moving in sideways trends with a support level at 1,560 points and a resistance level at 1,590 points.
– Foreign Investors and Local Institutions continued to pull back on the Thai stock market with a total of 6.6 billion baht.