Institutions Plunge SET Index Nonstop, Dropping SET to 9-Month Low with ฿2.5bn Net Sell
The total value of buying and selling separated by investor's type as of October 25, 2019.
– SET closed at 1,593.28 points, declined 27.69 points or 1.71% with a trading value of 76.6 billion baht. The market closed at the lowest point in nine months. The analyst stated that the index sank lower than its previous low point at 1,605 points, which led to a selloff and a cut loss. The announcement of a weak outlook in 2020 from KBANK yesterday caused investors to worry over the economic outlook that could affect the stock market.
Analyst still recommended to keep an eye on the 3Q19 financial statement, the development of trade deal between the U.S. and China, the Fed’s meeting next week, and the outcome of Brexit, giving a resistance level at 1,590 – 1,580 points, and resistant level at 1,605 – 1,620 points.
– A non-stop selloff from Local Institutions sank SET Index even further. The Index fell 27.69 points from a net sell of 2,517 million baht of Institutions.
