The SET moved within a tight range early in the
week before surging during the rest of the week on purchases of energy,
technology and financial stocks, boosted by Thailand’s better-than-expected
April export data, THB500 billion loan decree to cope with COVID-19 and hopes
towards additional choices for COVID-19 vaccines. Bullish foreign stock markets,
supported by better-than-expected US labor market data, also boosted the Thai
bourse. However, foreign investors remained in a net selling position while
MSCI rebalance that weighted down Thai stocks came into effect this week.