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26 Jun 2020

Financial Markets

The Baht rose slightly while the SET dropped amid concerns over the economic impact of COVID-19

  • The SET continued to drop over-week, ending at 1,330.34 points, down 2.95% over-week. The average daily trading value was THB56,755.43 million, down 20.51% over-week. The mai closed at 295.96 points, down 2.08% over-week.
  • The SET dropped early in the week due to the sell-offs of banking shares, as the BOT's issued an order to halt commercial banks in paying an interim dividend and banned a share repurchase. The SET continued to drop again around midweek amid concerns over the impact of COVID-19 on the global economy, including that of Thailand, as IMF estimated a contraction of 4.9% in world GDP, while the BOT's MPC slashed Thailand's GDP to -8.1%. However, the SET rebounded slightly at the end of the week, supported by the optimism that many countries will continue to reopen their economies despite the risk of a second wave of COVID-19.

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Financial Markets