With renewed concerns about US inflation and an emergency board meeting of the Federal Reserve scheduled for today, big-cap stocks sold off Monday morning, causing the SET Index to drop 20 points.
The SET Index dropped 20.36 points, or 1.28%, to 1,569.15, with a total trading value of THB40,055 million.
Krungsri Securities expects SET to fall on renewed US inflation worries after core Personal Consumption Expenditures (PCE) data for August beat expectations at +4.9% YoY. The strong reading could prompt an aggressive Fed rate hike and add pressure on the economy. Softer crude prices could also weigh on energy counters and the benchmark index.
