SET Plunges Further as Panic Kicks In after the Index Breaks 1,500pts Support Level

SET Index plunged below the resistance level at 1,495.97 points, decreased 15.06 points or 1.00% with a trading value of 38.5 billion baht as the lower price in crude oil plunged the energy sector.

 

The share price of PTT dropped 1.23% to ฿40.00/share. PTTEP fell 2.19% to ฿111.50/share. PTTGC plunged 2.29% to ฿64.00/share. TOP slipped 2.50% to ฿58.50/share. IRPC dipped 1.10% to ฿3.58/share. PTG lost 1.52% to ฿19.40/share. BANPU fell 4.20% to ฿11.40/share.

 

Oil prices fell as much as 2% in early trade in the Asia market on Friday, adding to overnight declines, on worries that the shutdown in refineries due to a big freeze in the U.S. South will take some time to revive operations and dent crude demand.

Moreover, the Energy Information Administration reported on Thursday that U.S. crude stockpiles fell more than expected in the week ending February 12, before the freeze, with inventories down by 7.3 million barrels to 461.8 million barrels.

U.S. crude stockpiles fell more than expected in the week to Feb. 12, before the freeze, with inventories down by 7.3 million barrels to 461.8 million barrels, their lowest since March, the Energy Information Administration reported on Thursday.