Thai Stock Market Roundup November 28, 2019

– SET closed at 1,597.68 points, decreased 9.59 points or 0.60% with a trading value of 43.1 billion baht. The analyst stated that the Thai stock market closed lower in the same direction of the regional market as well as the opening session in the European market. The concern over the U.S. and China trade deal grew after the U.S. President Donald Trump signed the bill the support protesters in Hong Kong which could spark the tension between the two economic giants and destroy the “phase one” deal.

The domestic factor regarding the stability of the government also played a great role in the plummet.

The analyst set a support level at 1,595-1,590 points and a resistance level at 1,600, 1,605 – 1,608 points.

– Foreign Investors single-handedly plunged SET Index nearly 10 points with a total of ฿1.7bn in net sell.

– FPT signed an agreement with F&N to develop a distribution center in Ayutthaya Province.

– MINT Books ฿1.4bn from the Disposal 2 Assets to Implement the Asset Rotation Strategy

– MK established a new subsidiary for the Trust Fund management business.

– JAS announced a dividend payment at ฿0.30/share, XD December 11, 2019.

– Phatra Securities recommended “BUY” on BANPU with a target price at ฿20.70/share.

– Stocks in Focus on November 28, 2019: BCPG (KGI Securities TP at ฿21.00/share) and CK (Asia Wealth Securities TP at ฿22.00/share).

 

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