Thai Stock Market Roundup July 30, 2019

– SET closed at 1,706.49 points, fell 11.48 points or 0.67% with a trading value of THB 55.57 billion. SET Index closed in negative territory. Investors have sold some of the Thai shares, leading by SCC after presenting a decline of 2Q19 financial statement. Moreover, investors also worried about the petrochemical and refinery sectors to present a negative result of the financial statement. The analyst recommends keeping an eye on Fed meeting whether there will be a rate cut as expected or not and launching of the U.S. quantitative easing.

– Institutions and Proprietary Trading combined to net sold of THB 3345.30 million while Foreign Investors and Individuals net bought in a total of THB 3345.29 million.

– Stocks in Focus on 30 July 2019: SEAFCO and LIT
      – The analyst stated that the recent backlog of SEAFCO has increased from THB 2,100 million to THB 4,000 million and expected to acquire new projects which earn approximately THB750 million/quarter. Being a subcontractor of concrete piles and wall plates has made the opportunity for SEAFCO to acquire more projects, including high-speed rail project connected between the 3 airports and Rama III-Dao Khanong expressway which estimated earnings of THB 12,000 million and THB1,200 million, respectively. Therefore, the analyst recommended “BUY” SEAFCO share with a 2019 target price of ฿11.50/share.
      – The analysts recommended “BUY” LIT share with the target price of ฿6.20/share. LIT has certainly benefited from government forming because LIT’s customer has been involved with the government sector, the government’s budget and a low-interest rate in the market. A 1Q2019 profit was 21% which the analyst expected a whole year profit of LIT to grow 5% to THB 156 million. In 2Q2019, the analyst has expected the credit to recover and increase higher in the 2H2019.

– IVL acquired 100% share of “Sinterama” for market penetration.

– HMPRO reported 16% growth of net profit in 2Q from higher sales revenue, reaching ฿1.52b billion.

– AQUA took over “S. Thana Media” with an investment of ฿380 million to boost OOH business.

– TKN closed the day at ฿11.00/share, dropped ฿0.70 or 5.98%. During the session, the highest of TKN’s share price was ฿12.00/share and the lowest was ฿10.80/share with a trading value of ฿693 million. The analyst estimated a decline in 2Q2019 profit as Chinese tourists decreased.

– GULF topped the stake in “TTCIZ-01” to 90%, expecting to support electricity demand in Vietnam.

– ITEL cooperated with ICN to acquire “Fiber Optic Cable Project” from PEA worth ฿213 million.

– Trade War pressured Thai manufacturing output to sink 5.5% in June, the most in 5 years.

– SCC closed the day at ฿434.0/share, dropped ฿6.00 or 1.36%. During the session, the highest of SCC’s share price was ฿440.0/share and the lowest was ฿430.0/share with a trading value of ฿2,187 million. SCC’s share price gradually dropped after a decrease of 2Q19 profit, analyst Recommended “Underperform” with the target price of ฿420/share.

Top 10 Most Impact Shares on July 30, 2019