Foreign Investors and Institutions Withdraw from Thai Stocks amid Rising Covid-19 Cases
The total value of buying and selling separated by the investor's type as of July 19, 2021.
– SET Index closed at 1,556.01 points, decreased 18.36 points or 1.17% with a trading value of 66.7 billion baht. The analyst stated that the Thai stock market closed lower than what analysts had anticipated last week due to rising concerns on Covid-19 cases that surged more than 10,000 cases a day for the last two days, and could continue rising higher due to the Delta variant. Meanwhile, Thailand is expected to increase lockdown restrictions to curb the infection rate, causing the market to slow down and lower the risk by a selloff.
Moreover, the OPEC+ meeting that resolved a production increase of 400,000 barrels per day from August to December 2021 also pressured oil prices as well.
The analyst recommended to keep monitoring Thailand Covid-19 situation and the government measures closely at this critical moment, giving a support level at 1,550-1,530 points and a resistance level at 1,570 points.
– Foreign Investors and Institutions combined a 3,000 million baht selloff amid Covid-19 concerns in Thailand.
