A Selloff in Big-Cap Stocks Plunges SET Sharply by 18pts amid Rising U.S. Bond Yields

SET Index made a sharp plunge in the afternoon session on Monday by 17.97 points or 1.20% to 1,482.54 points as of 15:06 local time in Thailand.

 

The analyst stated that the plummet not long after the opening session to a sharp plunge in the afternoon might be due to profit-taking in big-cap stocks from foreign investors and local institutions amid rising U.S. bond yield, causing limited to none fund inflow.

The rising in U.S. bond yield was due to an anticipation of the economic stimulus worth 1.9 trillion dollars, which is expected to be later this week.

 

The analyst gave a support level at 1,477 points and a resistance level at 1,500 points.