Foreigners Pour ฿6.1Bn Worth of Thai Shares after WTI Plunges to Negative Territory
The total value of buying and selling separated by the investor's type as of April 21, 2020.
– SET Index closed at 1,252.92 points, decreased 13.48 points or 1.06% with a trading value of 58.6 billion baht. The analyst stated that the Thai stock market was volatile due to the decline in U.S. crude price, but still closed better than other regional markets. The positive sentiment from easing a partial lockdown still buoyed the market, while the better-than-expected earnings of the banking sector also added up to the positive sentiment as well.
However, the analyst warned that the Thai stock market currently traded at P/E 16x, which was quite expensive, stating that the institutions had been keeping the index afloat, but once the institutions sell their shares, the market could plunge again.
The analyst set a support level for tomorrow’s session at 1,243-1,226 points and a resistance level at 1,270-1,280 points.
– Foreign Investors sold 6.1 billion baht worth of Thai shares amid the plummet in U.S. crude price.
