SET Index Plunges 1.3% below 1,400 Support Level, Following Selloff in Big-Cap Stocks

Thailand’s SET Index fell 19.25 points or 1.36% to 1,392.52 points as of 11:10 BKK time, pressured by a selloff in big-cap stocks.

Investors were turning away from the Thai stock market during earnings season over some disappointing earnings reports from Thai listed companies in the third quarter. Big-cap stocks were the main reason that the Thai bourse plummeted on Thursday, while China also slipped back into deflation in October, a sign showing that domestic demand remains sluggish even after recent stimulus efforts to shore up growth.

Bumrungrad Hospital (SET: BH) had the most impact on the SET Index by 1.03 points, while Berli Jucker (SET: BJC) added 0.73 points to the decline. Meanwhile, Siam Cement (SET: SCC), PTT, Delta Electronics Thailand (SET: DELTA) and Advanced Info Service (SET: ADVANC) dropped the market by around 0.50 points each.