Thailand’s SET Index Drops Below 1,300 Points Amid Political Uncertainty

Thailand’s SET Index experienced fluctuations, dipping below the key resistance level of 1,300 points in the early hours of Monday, as traders adopted a cautious approach ahead of crucial court rulings on political cases. The main index of the Thai stock market tumbled by 0.59% to 1,298.84 points on June 17, 2024.

The Constitutional Court of Thailand is set to deliver judgements on significant political cases involving the lese majeste charges against former PM Thaksin Shinawatra, the ousting of PM Srettha Thavisin, and the potential dissolution of the Move Forward Party.

This marks the SET Index’s lowest point in nearly four years, with the last instance of it dropping below 1,300 points recorded in November 2020.

As foreign investors have offloaded Thai stocks amounting to 15 billion baht this month, Finansia Syrus Securities (FSS) advised investors to consider stocks with distinct catalysts and robust growth prospects like CHG, CPALL, ITC, KCG, and TFG.