SET fell nearly 3% last month,  in line with most regional markets

Economy April 09, 2018 18:47

By The Nation

The Stock Exchange of Thailand (SET) Index at the end of March was 1.3 per cent higher than at the close of last year, but fell 2.9 per cent from the previous month to 1,776.26 points, mirroring the down-trend direction of regional stock markets overall.

The average daily trading value of the SET and the Market for Alternative Investment (MAI) combined last month was up 53.8 per cent year on year to Bt66.4 billion.

SET senior executive vice president Pakorn Peetathawatchai said on Monday that the SET Index’s month-on-month decline was due in no small part to a 6.2-per-cent drop in large-cap energy and utilities stocks, as well as a fall in banking shares, amid concerns over the ex-refinery price-structure revamp and scrapped banking-transaction fee, plus anxiety over US trade policy that dampened overall market sentiment, among other factors. 

The average daily trading value of the SET and the MAI during the first quarter surged by about 40 per cent compared to the same period last year, coming in at Bt71.18 billion. 

Last month, foreign investors sold a net Bt11.2 billion of Thai shares, in line with sell-offs in almost all stock markets across the region.