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SET drops 9.55 pts ahead of US Fed decision on rate cut

Jul 09. 2019
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By The Nation

The Stock Exchange of Thailand (SET) Index closed at 1,721.48 points on Tuesday, a drop of 9.55 points on Monday’s trading.

In trading worth Bt65.33 billion, foreign and individual investors continued to show net buying of Bt1.86 billion and Bt1.55 billion respectively.

Sarawut Taechowchawalit, research manager at RHB Securities (Thailand), said that the SET index had dropped along with stock markets in the rest of Southeast Asia, Europe and the United States, as investors waited to see whether US Federal Reserve president Jerome Powell would cut the interest rate cut in his July 10-11 address to Congress on financial and economic policy.

Sarawut forecast the market would stabilise maintain a support level of 1,707 points on Wednesday.

He believed that the market would maintain or drop on Wednesday according to the support index at 1,707 points.

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