Thai Stock Market Roundup January 8, 2020
A short summary to inform investors of what had happened in the Thai stock market on January 8, 2020.
– SET closed at 1,559.27 points, fell 25.96 points or 1.64% with a trading value of 65 billion baht. The analyst stated that the Thai stock market plunged since the opening bell following Wall Street and other regional markets due to the news report in the morning of an attack by Iran in Iraq’s airbase housing American troops.
The index plunged as much as 30 points during today’s session when the U.S. and Iran exchanged threats without any signs of compromising.
There is still another negative sentiment which was the report of China to remain grain quotas for the year despite promising to increase import volume of US agricultural products in the “Phase One” deal.
The analyst advised investors to monitor the situation closely as they are external factors to the Thai market.
– Local Institutions continued to pour shares back to the Thai market at the amount of 3 billion baht amid volatility in the Middle East while Foreign Investors took the opportunity to buy the dips for 2.2 billion baht.
– Iran fired missiles to attack Iraq air base housing US troops, escalating tension in the Middle East when both country’s leaders still exchanging punches. Oil rose 4% while gold increased 2% upon receiving the news.
– FAA banned US commercial flights over Iran and Iraq air space.
– Boeing 737 crashed in Iran after taking off to Kyiv with 176 passengers on board.
– Airlines, including Singapore Airlines, China Airlines and Malaysia Airlines have announced canceling some flights and avoiding Iranian airspace regarding the tension in the Middle East.
– BCPG signed the deal to sell electricity from “Nam San 3A Power” to Vietnam for 25 years.
– VRANDA invested ฿507 million for land purchasing in Phuket to expand the hotel-property business.
– DTAC collected the envelope for 5G bidding from NBTC.
– SCB settled a new subsidiary “SCB 10X” to develop a digital technology business.
– NCL set a target to achieve a revenue of 1.5 billion baht, supported by integrated transportation businesses.
– AEONTS reported a 10% increase in profit in 3Q19 from the core business and bad debt recovery.
– “Pakorn” recommended investing in dividend stock amid volatility in the market.
– Stocks in Focus on January 8, 2020: INTUCH (Asia Wealth Securities TP at ฿74.75/share) and GPSC (Country Group Securities TP at ฿98.00/share).
Top 10 Most Impact Shares on January 8, 2020
