A ฿4.1Bn Buying Pressure from Foreigners-Individuals Fend Off Institutions ฿3.7Bn Selloff
The total value of buying and selling separated by the investor's type as of December 15, 2020.
– SET Index closed at 1,477.21 points, increased 1.08 points or 0.07% with a trading value of 91.7 billion baht. The analyst stated that the Thai stock market faced a huge profit-taking in the past two days after a strong rally in November and early December, but could not break the resistance level at 1,500 and resulted in a halt in return.
The analyst saw that the Thai stock market remained a good opportunity to invest for risk assets due to the market relied on exports and tourism, which made the market underperform compared to its peer as the vaccine for coronavirus is not widely used as of now. However, once the vaccine is widely available and the demand returns, the Thai stock market will outperform its peers.
In addition, the analyst reiterated that the Thai stock market has a good momentum and should be able to surpass its resistance level at 1,500 points, giving a support level for tomorrow’s session at 1,455 points and a resistance level at 1,500 points.
– A combined 1.4 billion baht of net buy from Foreign Investors and 2.7 billion baht of net buy from Individuals warded off Local Institutions’ 3.7 billion baht selloff, and buoyed SET Index to close slightly higher.
