SET Drops 10pts before Closing as Investors Trigger a Selloff to Lower the Risk

The Thai stock market dropped below the 1,200 support level in the afternoon session, but still slightly better than the major indices in Asia.

 

SET Index fell 10.33 points or 0.86% to 1,191.31 points with a trading value of 41.8 billion baht as of 15:46 local time in Thailand. Meanwhile, Nikkei closed 1.52% lower, SSEC plunged 1.47%, HSI dropped 1.95%, ASX 200 dipped 0.55% and Kospi slipped 2.56%.

 

Krungsri Securities expected SET Index to drop within 1,190 points due to the negative sentiment from the rising coronavirus cases and domestic political issues, resulting in a selloff at the end of the week. The security company advised high-risk investors to pick stocks with a good 3Q20 earnings outlook, while low-risk investors should monitor the situation first.