Institutions Push SET Further with a ฿6.1Bn of Net Buy in Hopes of Biden’s Win
The total value of buying and selling separated by the investor's type as of November 5, 2020.
– SET Index closed at 1,264.32 points, increased 41.88 points or 3.43% with a trading value of 80.9 billion baht. The analyst stated that the Thai stock market moved in the same direction of global markets in response to Joe Biden’s possibility to win the U.S. presidential race against the incumbent Donald Trump, resulting in a buying pressure in the setor that would benefit from Biden’s policy.
Moreover, the analyst expected institutional investors would make a short covering, while switching plays to big-cap stocks. The banking sector would remain quiet for a while since no matter what happened, the outlook would still likely dim.
The analyst SET Index to continue the hike in tomorrow’s session with a movement between 1,250-1,280 points.
– A ฿6.1Bn net buy from Local Institutions skyrocketed SET Index by 41.88 points in hopes of Biden’s win to ease tension Trump had created.
