Foreign Investors Net Buy Thai Stocks for ฿19Bn, Pushing Trading Value to ฿166Bn!
The total value of buying and selling separated by the investor's type as of November 10, 2020.
– SET Index closed at 1,341.24 points, increased 55.36 points or 4.31% with a trading value of 166 billion baht. The analyst stated that the Thai stock market outperformed regional markets in response to the Covid-19 vaccine development by Pfizer and BioNTech that perform 90% of effectiveness on the patients. As Thailand is a country relying on tourism, the hotel and tourism stocks made a huge leap in today’s session in hopes of a recovery in the economy.
Meanwhile, the European markets moved in both positive and negative territories after an increase of 10% in recent days.
The analyst advised investors to keep a close eye on President Donald Trump’s movement as he claimed the election was fraud, as well as the MSCI rebalancing and the 3Q20 earnings announcement.
In addition, the analyst expected SET Index to continue its gain with a limited upside and would face a rebasing along the way, giving a support level for tomorrow’s session at 1,320-1,316 points and a resistance level at 1,350-1,360 points.
– Foreign Investors heavily invested in the Thai stock market with a 19 billion baht of net buy, buoying SET Index to close 55 points higher.