Thai Stock Market Roundup July 22, 2019

– SET closed at 1,727.58 points, plunged 7.52 points or 0.43% with a trading value of THB 59.26 billion. The index traded mostly in a negative territory from the probability of Fed to cut the interest rate by 25 basis points instead of 50 points.
Meanwhile, China debuted its new Nasdaq-style technology board known as STAR on the Shanghai Stock Exchange which skyrocketed on their first day despite a plummet of 1.27% from SSEC. The new board could also potentially snatch foreign investors from the Thai market as well. SET’s sudden plunge in the afternoon session was due to the freshly announced June exports which recorded a decline of four-month straight while imports also sank by 9.44%.

– A huge selloff at a total of THB 3.54 billion from Institutions plunged SET by 7.5 points while Foreign Investors continued to invest in the Thai market with a total value of THB 2.18 billion.

– GULF inked the 20-Year PPA with Vietnam to feed 30MW in 2021, and max 310MW in 2023.

– FPT sold 6 assets worth ฿63 million and issued 182 million ordinary shares to private placement for business expansion.

– JAS closed the day at THB 7.60/share, decreased THB 0.25 or 3.18%. During the day, JAS’s share price slid 2.5% amid rumors of discussing potential cooperation with Korean telco firm, while the highest of share price reached THB 8.00/share and the lowest was THB 7.60/share with a trading value of THB 1,054 million.

– TKN closed the day at THB 10.30/share, rose THB 0.90 or 9.57%. During the session, the highest of TKN’s share price was THB10.40/share and the lowest was THB 9.60/share with a trading value of THB 685 million. The analyst recommended “Speculation” TKN with the target price of THB 10/share

– ALL closed the day at THB 4.94/share, increased THB0.06 or 1.23%. During the session, the highest of ALL’s share price wasTHB 5.05/share and the lowest was THB 4.90/share with a trading value of THB 73 million. However, ALL’s share price has already surged above IPO at ฿5.05, therefore, analyst recommended “Speculation” with a resistance level at ฿5.20.

– Thai June exports fell 2.15% YoY to $21.41 billion, imports declined 9.44% YoY to $18.20 billion and the trade surplus was $3.21 billion.

– TMB’s 2Q19 profit fell 5% to ฿1.9 billion as non-NII records 22% Lower.

– SPCG cooperated with 3 Alliances to sign MOU for solar roof business in Thailand.

– Analyst recommended “BUY” KBANK with the target price of THB240.0/share, expecting 2H19 to rise from retail loan growth.

Top 10 Most Impact Shares on July 22, 2019