A ฿1.7Bn Net Buy from Individuals Fail to Outlast A Huge Selloff amid Cloudy Eco Outlook
The total value of buying and selling separated by the investor's type as of June 25, 2020.
– SET Index closed at 1,325.88 points, decreased 7.55 points or 0.57% with a trading value of 60.8 billion baht. The analyst stated that the plummet in the Thai stock market was due to a dim outlook from the Bank of Thailand’s announcement yesterday, coupled with a revised down of global GDP from IMF over the night, sending negative sentiment to Asia markets in the next trading day.
Meanwhile, the state of emergency will be prolonged for another month and the Travel Bubble measure still has yet to be confirmed, leaving no positive factor to support the market.
The analyst expected some buyback after a steep fall in the market, especially the banking sector that was being laggard from the recent selloff.
In addition, the analyst expected SET Index to swing sideways and possibly a technical rebound in tomorrow’s session, give a support level at 1,310 points and a resistance level at 1,330 points.
– Individuals made a solo-buying session for 1.7 billion baht, but failed to outlast the selloff from Local Institutions, Proprietary Trading and Foreign Investors that plunged SET by 7.5 points.