Thai Stock Market Roundup April 16, 2020
A short summary to inform investors of what had happened in the Thai stock market on April 16, 2020.
– SET Index closed at 1,200.15 points, declined 35.95 points or 2.91% with a trading value of 59.6 billion baht.The analyst stated that the decline in today’s session might be due to the profit-taking after the index surged to a certain point. The energy sector and the banking sector led the loser board due to the decline in oil prices for the energy sectors and worried of the earnings season for the banks.
The analyst set a support level for tomorrow’s session at 1,200-1,180 points and a resistance level at 1,230 points.
– Local Institutions and Foreign Investors combined a net sell of 6.7 billion baht, plunging SET Index by nearly 3%.
– Trump planned to reopen the nation as data showed the U.S. had ‘passed the peak’ of the virus outbreak.
– 5.35 million Americans were expected to file for unemployment benefits in the past week, pushing the total number over 21 million in just 1 month.
– Asian Economy expected global GDP to record zero growth for the first time in 60 years.
– BANPU made an amendment on the purchase agreement of Barnett Shale assets in the USA to ฿18.7bn.
– UTCC forecasted Thailand’s GDP in 2020 to contract 3.4%-4.9%/
– TKN expected to achieve 5.3 billion baht in revenue this year as the company targeted the online market during the coronavirus outbreak.
– SIRI upgraded its sales target in 2Q to 10 billion baht after booking 2.5 billion baht in the first week.
– Stocks in Focus on April 16, 2020: AOT (Asia Wealth Securities TP at ฿70/share) and OSP (Maybank Kim Eng TP at ฿50.00/share).
Top 10 Most Impact Shares on April 16, 2020
