SET Jumps 61pts to Test the Resistance Level at 1,200pts amid Easing Coronavirus Cases

SET Index closed the morning session with a jumping 60.85 points or 5.34% to 1,199.69 points with a trading value of 49.6 billion baht. The Index briefly broke the resistance level at 1,200 points during the session.

 

The analyst stated that SET Index moved in positive territory and outperformed regional markets after the global cases and deaths from coronavirus started to show signs of slowing down.

The Ministry of Public Health reported declining coronavirus cases in Thailand on Tuesday at 38 cases with 1 additional deaths, totaling 2,258 cases and 27 deaths in the kingdom.

Investors were also hoping the the Thai Cabinet meeting would introduce more stimulus plans to support people and businesses affected by the coronavirus outbreak.

The analyst also pointed out that the SET Index received positive sentiment from yesterday’s rallies as well. In the afternoon session, the analyst expected SET to continue its gain with a support level at 1,170 points and a resistance level at 1,200 points.