SET Drops 22pts as Oct. Economic Data Records Higher Contraction 

SET Index dropped 22.15 points or 1.54% to 1,415.63 points with a trading value of 59 billion baht as of 15:13 local time in Thailand. The market continued to decline after a decrease of nearly 19 points in the morning session.

Kasikorn Securities (KS) estimated the Thai stock market movement in the afternoon session between 1,400-1,435 points and advised to keep an eye on the OPEC’s meeting. Meanwhile, the Bank of Thailand announced a contraction of 5.6% YoY in October’s exports as imports contracted by 12.1% YoY. KS stated that the report was lower than anticipation as well as lower than the previous month.