SET Plunges 40pts, Analysts Suggest Defensive Plays amid Concerns over Economic Halt

The SET Index as of 10:45 on Monday, January 27, plunged as much as 40.15 points or 2.62% to 1,529.40 points due to concern over economic halt from coronavirus.

 

The death toll rose to 80 in China with confirmed over 2,700 cases, rose by 30% in just a few days. China locked down more than 35 million people to prevent contagion of the deadly virus as well as giving an order to halt Chinese citizens to travel to other countries.

The Association of Thai Travel Agents (ATTA) stated that the measurement from Chinese authorities would have a huge impact on Thai tourism which would cause Chinese arrivals to decline around 70-80%.

The analyst expected investors to play defensively on stocks in hospital sectors and stocks that related to power plant operations.