Institutions and Individuals Buoy SET to Close Higher by 5pts with a Total of ฿4 Billion
The total value of buying and selling separated by investor's type as of August 6, 2019.
– SET closed at 1,671.48 points, rose 5.49 points or 0.33% with a trading value of THB 70.43 billion. Today the SET Index switched to close higher in the opposite direction of regional market. In the morning session, Thai stock market showed a volatility sign by plunging almost 20 points from the concern of Chinese yuan falling to 7 yuan / 1 dollar on 5 August 2019 for the first time since 2008. As a result, the global market showed concern after Trump claimed China for manipulating its currency and the U.S. Treasury labeled China a “currency manipulator” after the end of the trading session on Monday.
The Thai market started to rebound late morning after People’s Bank of China denied it was devaluing its currency in response to Trump’s latest tariffs, however, an official was quoted anonymously saying it was a reaction to tariffs. The Bank of China has announced the plan to limit yuan depreciation by selling 30 billion yuan or $4.2 billion of bills in Hong Kong on 14 August 2019. The move will drain liquidity of yuan offshore, making it more costly to short the Chinese currency.
– Institutions and Individuals net bought THB 4,094.28 million to buoy the SET close higher by 5.49 points while Foreign Investors sold the rips by THB 3,415 million.
