SET Drops 9pts, Analyst Expects Limited Downside due to Foreigners Buying Pressure

The Thai stock market made a sharp plunge at the opening of the afternoon session, dropping 9.85 points or 0.73% to 1,331.39 points.

 

CGS-CIMB Securities expected a wild session in the afternoon, but the downside would be limited due to strong buying pressure in big-cap stocks. The security company stated that the ups and downs in the morning session was due to the profit taking by individual investors, while expecting buying pressure from foreign investors to remain as driving factors for the market. However, CGS-CIMB expected “Selective-Buy” from foreign investors, unlike a broad investment in the past two days.