Foreigners-Institutions Pull Back ฿6.8Bn from Thai Stock Market as IMF Revises Down GDP

– SET Index closed at 1,498.13 points, decreased 14.70 points or 0.97% with a trading value of 78.8 billion baht. The analyst stated that the rebase in SET Index was due to a revised down GDP forecast from IMF in ASEAN countries, including Thailand.

In the meantime, the analyst advised investors to monitor the economic directions from the Fed’s meeting tonight as U.S. inflation and bond yield slightly rose higher.

The analyst expected the market to move in a sideways direction with a support level at 1,480-1,470 points and a resistance level at 1,520 points.

– Foreign Investors and Local Institutions pulled back 6.8 billion baht worth of Thai shares after IMF revised down 2021 GDP.