SET buoyed by more positive vaccine news

The Stock Exchange of Thailand (SET) Index rose by 10.12 points, or 0.71 per cent, to 1,430.55 during morning trading on Tuesday as the market responded to buoyant news about the coronavirus vaccine.

Analysts at Krungsri Securities expected the SET index to climb up between 1,435 and 1,445 points from foreign funds inflows which accounted for 5.7 billion baht of trading in Thai stock market last week.

Another factor that could boost the sentiment is that the president-elect Biden would pick Janet Yellen, an economist and former Federal Reserve Chairwoman for Treasury Secretary, the analysts added.

However, the research team warned that investors should beware of selling pressure ahead of the scheduled protest on Wednesday.

Likewise, an analyst at TISCO Securities also predicted that the market would still be tied to the political tensions.

“The uncertainty should still be a disturbing factor and may pressure the market and lead to some outflows,” said an analyst at TISCO.

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