SET Expects a Fluctuating Session as FTSE Weighs Down Thai Stocks!

The Thai stock market is expected to fluctuate on Friday after FTSE All World reduced its weight on Thai stocks, while PTT, CPALL, SCC, AOT and ADVANC are expected to be affected the most.

 

Capital Nomura Securities stated that FTSE All World would reduce the weight on Thai stocks from 3.05% to 2.98%, causing an outflow for an approximate of 3.6 billion baht from passive funds.

However, CRC, DIF, ACE, BAM and RBF were expected to be added in FTSE SET Index on June 22, 2020.

 

Asia Plus Securities stated that the Thai stock market has limited upside due to its constant rally in recent weeks, coupled with selling pressure from foreign investors and Institutional Investors that began to sell the rips, leaving individual investors as a lone buyer on small and mid-cap stocks, which had less impact on moving the index.

In addition, the analyst set a support level at 1,350 points and a resistance level at 1,380 points.