Pundits say SET index could slip below 1,300

The Stock Exchange of Thailand (SET) index, which plunged to a three-year low on Wednesday, could slip further to below 1,300 points in the near term as foreign funds continue to exit, say analysts.

The Thai bourse seems to be immune to the recent rebound of other stock markets amid positive signs since last month, including declining inflation and interest rate trends, said Sorrabhol Virameteekul, senior vice-president of Kasikorn Securities.

The SET index fell by 1.16% on Wednesday to hit the lowest level since Nov 18, 2020.

“It seems that foreign investors, who account for as much as 40% of trading on the SET, have given up on the Thai market. They bought 190 billion baht worth of Thai stocks last…