Institutions Retreat from Thai Stock Market with ฿2.18Bn, Dragging SET to Down 18pts
The total value of buying and selling separated by the investor's type as of September 8, 2020.
– SET Index closed at 1,293.80 points, decreased 18.15 points or 1.38% with a trading value of 45.3 billion baht. The analyst stated that the Thai stock market dropped below the 1,300 support level in its first trading day after a long holiday when global markets faced a huge selloff. Stocks in the energy and petrochem sector traded lower in today’s session, while CPF plunged 6.30% in response to the report of lower swine prices.
The tension between the U.S. and China also increased, while domestic factors lacked positive sentiment to drive the market as the position of the Finance Minister is still vacant. The political issues over the amendment of Thai constitutional law also reflected a negative sentiment that pressured the stock market.
The analyst estimated the support level for tomorrow’s session at 1,290 points and the resistance level at 1,305-1,310 points.
– Local Institutions poured 2,182 million baht to plunge SET Index by 18 points after the long weekend.
