Thai Stock Market Roundup April 15, 2020

– SET Index closed at 1,236.10 points, declined 20.25 points or 1.61% with a trading value of 69.4 billion baht. The analyst stated that the SET Index faced a profit-taking after a long rally for the past few days, while the technical signal showed that the market was overbought.

The analyst anticipated that the market could be worrying about the decline in the earnings of banking sectors which will be released their financial statements in the next few days. Moreover, Local Institutions had made a net buy for the total of 30 billion baht in the past five weeks, causing the market to worry of a sudden selloff if the banking sectors earnings had a bad outlook.

Thus, the analyst expected a limited upside for tomorrow’s session, giving a support level at 1,230-1,210 points and a resistance level at 1,250-1,260 points.

– Foreign Investors and Proprietary Trading made a selloff for profit-taking with a net sell of 4.65 billion baht.

– Trump halted US funding for WHO, claiming the organization failed in response to the global Covid-19 outbreak along with promoting China’s “disinformation” about the virus.

– BJCHI acquired two overseas projects in Singapore, the U.S. and Brazil worth ฿750 million.

– CK acquired a construction of the Si Rat Expressway Project from BEM worth ฿830 million.

– Analyst expected IVL’s PET business to generate higher EBITDA in 2020, giving a “BUY” recommendation with a target price at ฿40.00/share.

– STEC to outperform the coronavirus crisis with a secured ฿78bn worth of backlog, analyst recommended a target price at ฿21.40/share.

– Oil prices fell after the IEA revealed global oil demand to drop to 1995 levels.

– Stocks in Focus on April 15, 2020: BJCHI (Maybank Kim Eng TP at ฿2.50/share) and BEM (KGI Securities TP at ฿10.00/share).

 

Top 10 Most Impact Shares on April 15, 2020