Thai Stock Market Roundup Dec. 18
A short summary to inform you of what had happened in Thai stock market on December 18, 2018.
– ECF bounced 6.5%, asserted no significant development on STREK deal as rumored.
– SPA invested ฿125 million to strengthen its synergy business and took over “Chaba Elegance”.
– UWC signed a contract to manufacture 500 kV high voltage poles worth ฿700 million.
– PTTEP revealed a 5-year plan to strengthen business by increasing petro sales volume.
– ADB reported new installation of the semi-auto machine to expand its production to 4,500 ton per year.
– Credit Suisse gave BJC “outperform” ranking and a target price at ฿59.00/share from a positive outlook on the coffee chain and business in Vietnam.
– Local institutions continued to sink SET Index by 18 points from a ฿4 billion selloff. Meanwhile, the proprietary trading, foreign investors and local individual decided to take this chance to buy at a lower price.
– SET closed at 1,583.19 points, plunged 18.29 points or 1.14% with ฿42.5 billion in value. Analysts mentioned that the slump in Asia markets was due to unsettled and uncertain international issues such as trade war and Brexit. While the statement from PM Xi Jinping today did not give a clear answer on how the country will handle the situation with the US.