Thai Stock Market Roundup March 20, 2020
A short summary to inform investors of what had happened in the Thai stock market on March 20, 2020.
– SET closed at 1,127.24 points, increased 83.05 points or 7.95% with a trading value of 93 billion baht. The analyst stated that the SET Index made a technical rebound after a hard fall this week, supported by the stimulus plans from central banks in other countries.
The analyst suggested investors to wait and see the announcement of the Monetary Policy Committee on March 25 regarding the policy rate.
The support level for next week’s sessions is 1,040 and the resistance level is 1,156-1,180 points.
– Local Institutions and Proprietary Trading buoyed SET Index by 83pts with a ฿10bn of net buy.
– Low exposure stocks to COVID-19 start to outperform the market, said Maybank.
– The global recession is now “base case”, said Morgan Stanley, while forecasting GDP in 2020 at 0.9%.
– Bank of America expected the U.S. economy to “collapse” in Q2 and about 3.5mn jobs lost.
– Italy‘s death toll of coronavirus overtook China and planned to extend the nation’s lockdown.
– SRICHA acquired a project in “Project T3” worth more than 1,000 million baht.
– EKH approved a share repurchase program not exceeding 60 million shares and 30 million baht.
– JKN established a new subsidiary in Singapore to sell and purchase contents overseas.
– Stocks in Focus on March 20, 2020: OSP (Maybank Kim Eng TP at ฿50.00/share) and RATCH (Kasikorn Securities TP at ฿75.75/share).
Top 10 Most Impact Shares on March 20, 2020
