SET Rebounds 16pts after a Sharp Plunge in Yesterday’s Session as Concerns Ease

SET Index made a technical rebound on May 6, 2021, after a plummet by 34pts or 2.14% from foreign investors’ selloff for more than 10 billion baht in concerns of Covid-19 situation in Thailand.

 

At the closing in the morning session, SET Index closed at 1,565.74 points, increased 16.52 points or 1.07% with a trading value of 49 billion baht.

RHB Securities (Thailand) saw a gain in the Thai stock market as a technical rebound from a sharp plunge in yesterday’s session. The rebound was buoyed by the government’s relief measure to support those affected by the coronavirus outbreak and the Monetary Policy Committee (MPC) has yet to revise their GDP forecast. In addition, the analyst advised investors to monitor the vaccine rollout.

The regional markets traded in both positive and negative territory, but relaxed the tension after the U.S. Treasury Secretary Janet Yellen stated that she respected the independency of the Federal Reserve in response to her comment earlier saying that interest rates may have to increase to prevent the U.S. economy from overheating.