SET Drops 13pts to 1,298 in the Afternoon, Facing a Heavy Selloff in Big-Cap Stocks

SET Index continued to plunge in the afternoon, dropping 13.01 points or 0.99% to 1,298.94 points as of 15:15 local time in Thailand, following the plummet in the U.S. stock market last week.

 

The Thai stock market faced a selloff on Tuesday, September 8, 2020, right off the opening bell and continued to trade slightly above and below the 1,300 level, following the selloff in the U.S.’s tech-heavy index, Nasdaq, as the market had been questioning the recent rally in the stock market whether those gains were overdone.

Moreover, the U.S. bond yield also saw an uptick in recent days and the strong greenback caused a profit-taking in high valuation stocks, such as the power-generation and big-cap stocks