Institutions Continue to Adjust Portfolio in a Selloff Worth ฿3.5Bn, Plunging SET by 9pts
A short summary to inform investors of what had happened in the Thai stock market on January 18, 2021.
– SET Index closed at 1,510.13 points, decreased 9.00 points or 0.59% with a trading value of 74.4 billion baht. The analyst stated that the Thai stock market closed lower on Monday as the major stocks in Asia mixed and European stocks all declined at the open.
SET Index moved in a rebase trend in response to negative factors such as the appreciation of the greenback and the outflow from Asian markets in concerns of the Fed to increase its policy rate faster than expected.
Meanwhile, the analyst viewed that the valuation in the Thai market was quite full with small upside, seeing a great opportunity to buy the dips around 1,480-1,450 points.
In addition, the analyst expected SET to continue rebasing in tomorrow’s session with a support level at 1,500-1,480 points and a resistance level at 1,520-1530 points.
– Individuals buy the dips after SET Index dropped 9 points from the selling pressure, led by a 2.8 billion selloff from Local Institutions.