Individuals Buy the Dips for ฿2.4Bn as SET Plunges 9pts over U.S.-China Tension
The total value of buying and selling separated by the investor's type as of August 7, 2020.
– SET Index closed at 1,324.40 points, decreased 8.82 points or 0.66% with a trading value of 44.3 billion baht. The analyst stated that the plummet in the Thai stock market was due to a lack of positive factors, while the U.S. issued a restriction for U.S. companies to do business with ByteDance, TikTok’s parent company, and WeChat’s Tencent due to security concerns.
However, the analyst stated that the upcoming $1 trillion stimulus package and the trade talk on August 15 could be the drive for stock markets.
The market is expected to rebase next week during the 2Q20 earnings season. The analyst advised to monitor the MSCI rebalancing on August 12 while giving a support level for next week’s session at 1,300 points and a resistance level at 1,350 points.
– Local Individuals net bought 2.4 billion baht of Thai shares as the index plunged nearly 9 points due to coronavirus and trade war concerns.
