Buying Pressure from Individuals for ฿1.2Bn Overcomes Institutions and Foreigners Selloff
The total value of buying and selling separated by the investor's type as of June 23, 2020.
– SET Index closed at 1,356.43 points, increased 4.25 points or 0.31% with a trading value of 49,101 million baht. The analyst stated that the Thai stock market swung sideways and slightly positive to be in line with European markets and Dow Jones Futures, while regional markets also closed higher.
The analyst stated that investors were keeping an eye on the development of the second wave in South Korea and the U.S., but still hope for vaccine development against coronavirus to be ready by this July.
The analyst suggested investors to keep monitoring the Monetary Policy Committee (MPC) meeting on June 24, expecting MPC to maintain the policy rate at 0.50%, while awaiting for May exports data to be released, forecasted to contract by 5.75%. For an external factor, the International Monetary Fund (IMF) will be releasing its economic review on June 24 as well.
In addition, the analyst expected the support level for tomorrow’s session to be at 1,340 points and a resistance level at 1,365 points.
– Local Institutions and Foreign Investors continued their selloff, but with a lower value. However, the buying pressure at a value of 1,189 million baht from Local Individuals buoyed the market by 4 points.