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Sentiment surrounding the Stock Exchange of Thailand (SET) was downbeat on Monday, despite Sunday's landslide election win, as investors dumped shares related to politics and big-cap stocks that might be adversely affected by the policies of the Move Forward Party, analysts say.
SET follows global bourse downturn
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Fed holding steady leads to sell-off
published : 29 Jan 2021 at 04:02
5 A man looks at an electronic board displaying stock prices at Asia Plus Securities. (Photo by Pornprom Satrabhaya)
Many global markets crashed on Wednesday, with Thailand s stock market following suit on Thursday, dipping by 1.98%.
Investors were disappointed with the chairman of the Federal Reserve s statement that the Fed is retaining it monetary policy without any new stimulus measures.
The Thai stock market fell to its lowest point in a month, with investors selling off large-cap stocks, especially bank and energy stocks.
Some analysts projected the SET Index had been edging closer to an upside limit, driving investors to sell stocks after prices dropped to take profits.