SET drops on profit taking
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The Stock Exchange of Thailand Index closed lower than 1550 points yesterday and is falling more than other exchanges in the region due to a mix of profit-taking and external factors.
The SET Index closed at 1543.13 points, with a total trading value of Bt55.46 billion.
That represents a contraction of 27.15 points, or 1.73 per cent, compared to the 1570.28 points at the close of trading on Friday.
Local institutions were the biggest net sellers yesterday at Bt3.013 billion
in total while proprietary, foreign and local individuals investors were the biggest net buyers at Bt386.12 million, Bt184.15 million and Bt2.443 billion respectively.
The SET urged investors to remain calm, saying that only a small amount of foreign funds had flowed out of Thailand, as foreign investors had unloaded sizeable portions before the tapering starts.
HSBC economists believe that if monetary policies in Western economies shift gear, volatility in Asian equities may increase and there would be limited upside potential for the remainder of the year.
Among Asean markets, it recommends buying only for Indonesia.
HSBC said China and India’s markets were overweight.
