– SET Index closed at 1,619.59 points, increased 4.73 points or 0.29% with a trading value of 79 billion baht. The analyst stated that the Thai stock market moved in sideways trends, waiting for the tapering signal from the Fed’s second-day meeting. If the Fed takes it slow, the stock market could bounce back. However, if the Fed tapers more than the market expectations, it could send a negative sentiment to the stock market.
The China Evergrande default relaxed, but lower performance of Thai corporates in 3Q could weigh the market down.
The analyst expected the Thai stock market to continue moving sideways, giving a support level for tomorrow’s session at 1,592-1,600 points and a resistance level at 1,635-1,640 points.
– Local Institutions slowed down its buying pressure, combining a billion baht of net buy to buoy SET Index by nearly 5 points.