Thai Stock Market Roundup November 4, 2019

– SET closed at 1,622.25 points, jumped 29.73 points or 1.87% with a trading value of 64.4 billion baht. The analyst stated that the market made a high jump above expectations from a renewed trade optimism after the U.S. Commerce Secretary Wilbur Ross said that a short period of licenses would be granted for American firms to sell to the Chinese telecommunications giant Huawei.

Meanwhile, the RCEP summit would have a promising deal with other countries for more investment and trade deals. The GSP, though the government asserted that would not affect much to the Thai economy, would be put into the table for a better outcome between Thailand and the U.S.

Analyst expected the market to swing sideways in tomorrow’s trading session, giving a support level at 1,610, and a resistance level at 1,640.

– A huge buy amounting 4,636 billion baht from Institutions sent SET Index to skyrocket by 30 points.

– BGRIM signed an agreement with “Petrovietnam Power” to initiate 3,000MW LNG Power Plant in Vietnam. BGRIM rose ฿4.75/share or 9.95% to close at ฿52.50/share.

– GULF inked the deal with Vietnam’s prime minister for 6,000MW natural gas power plant, advancing to LNG trading. GULF closed at ฿172.00/share, jumped ฿9.50/share or 5.85%.

– GLOW’s 3Q19 profit downed by 17% to 1.76 billion baht.

– JASIF announced a ฿0.23/share dividend payment, XD November 14, 2019.

– SMART reported an amazing growth in net sales, rebounded from the previous lost last year to book ฿14m of profit in 3Q19.

– GUNKUL signed an agreement with “Murata Electronics” to install a 3.99 MW solar rooftop.

– SCN established a subsidiary with brand new minibusses, aiming to sell 140 units/year.

– GFPT jumped the highest in 19 months, the analyst recommended “BUY” with a target price at ฿18.2 from strong growth.

– Stocks in Focus on November 4, 2019: PTTEP (Maybank Kim Eng TP ฿159.00/share) and INTUCH (Tisco Securities TP ฿72.00/share.)

 

Top 10 Most Trading Shares on November 4, 2019