Thai Stock Market Roundup July 17, 2019
A short summary to inform you of what had happened in Thai stock market on July 17, 2019
– SET closed at 1,718.85 points, plunged 9.13 points or 0.53% with a trading value of THB 62.6 billion. The plummet began in the afternoon session when the European stocks had started the session in negative territories as Trump’s comment on trade war dampened the sentiment. Moreover, the market had already priced-in the news of Fed’s rate hike in the recent hike, thus, need new factors to drive the market. An analyst from UOB Kay Hian stated that the 2Q19 financial statement from petrochem stocks had been expected to come out lower which might pressure the index during the period.
– Institutions poured another THB 3.35 billion to accumulate a total of THB 9 billion of selloffs in three trading days. Meanwhile, Individuals scooped shares at a lower price for a total of THB 2.13 billion, and Foreign Investors continued to invest in Thai market amid the strengthening of Thai baht.
– Stocks in Focus on 17 July 2019: TRUE and PYLON
– The analyst recommended “BUY” TRUE share with the target price of THB6.80/share. The analyst expected a 2Q19 profit to increase continuously as normal and believed a share price of TRUE to decrease lower than the estimation in 2Q19 from the compensation for retired employees, so, it is an opportunity to accumulate TRUE share.
– The analyst recommended “BUY” PYLON share with the target price of THB7.40/share. The Analyst expected a 2Q19 profit growth to grow 108% YoY to THB65 million (decreasing when compared to the previous quarter due to seasoning factor).
– CIMBT’s 2Q19 profit fell by 45% to record at THB105 million from higher expenses.
– SORKON established JV worth THB60 million to expand processed meat market in Myanmar.
– EPG hiked 5% to a new high in 4 months, analyst recommended with the target price of THB8.50/Share.
– TRUE issued 6 series of debenture totaling THB12 billion for refinancing and business expansion.
– Baht fell 1% due to the restriction of strong baht and deduction of non-residential accounts to THB200 million (USD 6.5 million) from THB300 million baht effective July 22.
Top 10 Most Impact Shares on July 17, 2019
