Thai Stock Market Roundup January 6, 2020

– SET closed at 1,568.50 points, plunged 26.47 points or 1.66% with a trading value at 71.2 billion baht. The analyst stated that the global markets faced a selloff amid rising tension between the U.S. and Iran when both sides vowed to retaliate. The index started to lose its stance in the afternoon after falling lower than the support level at 1,580 points, resulting in more selling pressure from investors.

Moreover, the pneumonia outbreak in China caused negative sentiment to the tourist and aviation sector in speculation of lower passenger/tourist during the outbreak.

The analyst has given a resistance level at 1,580 points and a support level at 1,550-1,560 points.

– After a long-buy, Local Institutions poured 2.6 billion baht of net sell over the dispute in the Middle East.

– IVL completed the “Huntsman” deal to strengthen oxides business overseas.

– Oil price rose 2% in early trade due to long-tension in the Middle East.

– The analyst expected AOT’s net profit in 2020 to reach ฿28bn, giving a target price at ฿88.00/share.

– SAPPE affirmed at the situation in the Middle East did not affect the company’s business while being confident in a 10% growth in revenue.

– Airlines stocks plunged after AOT made an announcement to monitoring China pneumonia outbreak.

– KBANK fell 5.90% before the enforcement of limiting NVDR at 25% on January 24, 2020.

– Saudi Aramco dropped to a historical low at 34.05 Riyals.

– “Somkid” expected limited impact from U.S.-Iran tension while asserting that Thai economy remained strong.

– Stocks in Focus on January 6, 2020: PTTEP (Asia Wealth Securities TP at ฿147.00/share) and ADVANC (Finansia Syrus Securities TP at ฿260.00/share).

 

Top 10 Most Impact Shares on January 6, 2020