SET Falls Sharply in Afternoon Session as Investors Look Forward to Fed’s Meeting Tonight

The Thai stock market opened the afternoon trading session with a sharp plunge by 4.75 points or 0.31%, pressured the benchmark to 1,508.08 points.

 

Phillip Securities expected SET Index in the afternoon session to move in both negative and positive territories due to the lacking of a new catalyst to drive the market, while investors are focusing on the Fed’s meeting tonight that expected to maintain the policy rate near zero and no more QE.

As for domestic factors, the Center for COVID-19 Situation Administration (CCSA) proposed loosening Covid-19 restriction in Samut Sakorn for more economic activities, which the agenda will be discussed in a meeting on Friday and waiting for an approval from the Thai cabinet next Tuesday.

In addition, the analyst expected SET Index to move between 1,500-1,525 points and advised investors to monitor the 2020 earnings announcement from listed companies. SCC and PTTEP are expected to be released soon.