SET Closes Slightly Higher by 7pts amid Lighter Fund Inflow to Boost Sentiment
A short summary to inform investors of what had happened in the Thai stock market on January 13, 2021.
– SET Index closed at 1,547.31 points, increased 7.46 points or 0.48% with a trading value of 106 billion baht. The analyst stated that the index could not close above the resistance level at 1,550 points due to the lack of positive sentiment to support the market, while investors are watching the banking sector 4Q20 earnings closely. The statements are expected to be published within next week.
In the meantime, the U.S. stimulus plan that would strengthen the greenback would post a negative impact to the Thai stock market in the short run, however, it would reflect as a positive outlook in the long-term.
The analyst stated that the fund inflow started to slowdown after the U.S. 10-year treasury yield rose higher, resulting in more outflow from the Thai stock market.
In addition, the analyst expected SET Index to move in sideways trends with a support level at 1,540 points and a resistance level at 1,555-1,560 points.
– Local Institutions, Proprietary Trading and Foreign Investors buoyed SET Index by 7.5pts with a net buy of 1,068 million baht.