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16 Aug 2019

Financial Markets

The Baht weakened while the SET fell below 1,600 points before rebounding later in the week

        The SET index hit its lowest level in nearly 7 months at 1,590.55 before ending the week at 1,631.40 points, down 1.17% over-week. The average daily trading value was THB75,604.08 million, up 16.22% over-week. The mai closed at 350.02 points, down 2.13% over-week.

         The SET index fell almost throughout the week on sell-offs of foreign investors amid concerns toward US-China trade dispute, global economic outlook, plus situation in Hong Kong and Argentina. In addition, the index also weighed down by the sell-offs of banking shares (after four biggest commercial banks cutting their minimum retail rate and minimum overdraft rate) and communication shares. However, Thai stock market rebounded somewhat at the end of the week, supported by the news that Economic cabinet passed new economic stimulus package, which will be submitted to Cabinet soon.   


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