Thai Stock Market Roundup April 17, 2020

– SET Index closed at 1,239.24 points, increased 39.09 points or 3.26% with a trading value of 59 billion baht. The analyst stated that SET Index made a huge move to be in line with other regional markets that closed the day with a gain of 2-3% after the U.S. reported an effective drug for treating coronavirus and tended to ease the lockdown step by step.

Meanwhile, Thailand is also expecting to ease the lockdown as well when the new coronavirus cases started to stabilize.

The analyst expected stocks related to department stores like CPN, HMPRO, ADVANC, COM7 would have positive sentiment along with the recovery of BEM and BTS. The regulations would be more detailed next week after making sure that the virus has been contained to a limited area.

The oil prices continued to decline despite the production cut of 9.7 million from OPEC and Non-OPEC due to an overwhelm of lower demand in the market.

The analyst expected the market would continue to fluctuate as well as the oil prices, giving a support level at 1,200-1,190 points and a resistance level at 1,240-1,250 points.

– Local Institutions made a buyback for a total of 4.3 billion baht, while Individuals sold the rips for 4.1 billion baht.

– China reported a 6.8% contraction in 1Q GDP.

– SUPER expected the revenue in 2020 would reach its target at 15% mainly supported by 50 MW from solar power plant in Vietnam.

– DOHOME expected sales revenue in 1Q to decline 10% due to the coronavirus outbreak.

– Analyst expected limited impact from COVID-19 for RBF while giving a “BUY” recommendation at a target price of ฿5.55/share.

– CPN rose 9.39% in anticipation of the department store to reopen on May 1.

– Stocks in Focus on April 17, 2020: CHG (Maybank Kim Eng TP at ฿3.00/share) and MTC (KTB Securities TP at ฿52.00/share).

 

Top 10 Most Impact Shares on April 17, 2020