Krungsri Securities (KSS) expected Thailand’s SET Index to move within the range of 1,375-1,395 points. The analyst stated that despite an increase in oil prices from lower-than-expected crude inventories, the outflow of foreign investors and a selloff to derisk could pressure the market.
Alibaba Group announced its new plan to invest $1.1 billion in South Korea over the next three years to build a logistics center and expand the group’s businesses. $200 million will be spent on building the logistics center this year, while another $100 million will be spent to help SMEs in South Korea to sell their products overseas.
Tesla’s target price got downgraded from analysts on a daily basis as deliveries forecast this year looks dire. UBS just slashed Tesla’s target price from $225 to $165. Meanwhile, Wells Fargo downgraded Tesla to “Underweight” and cut target price from $200 to $125.
The share price of Tesla has tumbled about 30% so far this year.
