Time for Institutions to Take Profit, Plunging SET by 22pts with a ฿4.1Bn Selloff
The total value of buying and selling separated by the investor's type as of June 11, 2020.
– SET Index closed at 1,396.77 points, plunged 22.00 points or 1.55% with a trading value of 82.8 billion baht. The analyst stated that the plummet in the Thai stock market today was in the same direction of the regional market as well as the European market and Dow Jones Futures after the Fed’s decision to maintain the policy rate at near zero until 2022, causing worries over slow economic recovery from the pandemic.
The valuation in the Thai stock market is also high, resulting in a profit taking in today’s session. The analyst believed the market was already priced in the phase 4 easing, thus advising to monitor the FTSE weight increase on June 19.
The analyst expected 1,374-1,360 points to be the support level in tomorrow’s session, and 1,400-1,405 points to be the resistance level.
– Local Institutions plunged the Thai stock market with a 4.1 billion baht selloff, coupled with 1.18 billion baht of net sell from Proprietary Trading and Foreign Investors.
