SET Continues Downward, Dropping 23pts as the Analyst Expects Limited Downside

The Thai stock market continued downward in the afternoon session after closing 14.86 points or 0.99% lower in the morning session at 1,483.27 points.

 

As of 14:36 local time in Thailand, SET Index fell 23.72 points or 1.58% to 1,474.41 points with a trading value of 53.4 billion baht. The analyst stated that the decline in the Thai stock market followed the plummet in regional markets in a disappointment of not getting another stimulus plan from the Fed.

Meanwhile, the valuation started to tighten after a series of gains since the beginning of 2021. SET Index dropped below the support level of 1,492 points, reflecting a short-term rebase. However, the analyst expected limited downside to SET Index, giving another support level at 1,470 points.