Foreigners-Prop Trade Drag the Market Down with ฿5bn Selloff, Inst. Slow Down to ฿131mn
The total value of buying and selling separated by the investor's type as of March 11, 2020.
– SET closed at 1,249.89 points, decreased 21.36 points or 1.68% with a trading value of 72.2 billion baht. The analyst stated that the buying pressure still lingered at the opening, but as days progressed and investors were monitoring the government for stimulus plans amid the current crisis, the stock market started to crumble.
Cases of coronavirus escalated after virus-positive persons went or worked at essential points in Bangkok such as Suvarnabhumi Airport, tourist attractions, major business building, etc.
The government also issued a measurement to cancel free visa for Hong Kong, South Korea and Italy, while cancelling Visa on Arrival for other 18 countries in hopes to prevent the outbreak from entering stage 3.
The analyst also stated that the market had high volatility as the situation in oil price war still had not been eased while the cases from coronavirus also increase constantly, especially in Italy and S.Korea. Thus, investors should monitor the development closely and invest cautiously.
The analyst gave a support level at 1,235-1,230 points and a resistance level at 1,280 points.
– Foreign Investors and Proprietary Trading plunged SET Index with a net sell of THB 5 billion. Local Institutions slowed the pace down to a net sell of THB 131 million.