Thai Stock Market Roundup on July 17, 2020

– SET Index closed at 1,359.58 points, increased 11.72 points or 0.87% with a trading value of 41.3 billion baht. The analyst stated that the Thai stock market made a high jump in the afternoon session after having a political development in a positive way, which raised confidence for investors.

Moreover, there were yet to be any reports of domestic coronavirus cases from the event of quarantine violations earlier. Still, the travel and oil demand was yet to recover, causing investors to make a short play.

In addition, the analyst suggested to keep an eye on the announcement of listed companies’ earnings in 2Q20, expecting a sideways trends for next week’s session to be within 1,320-1,370 points.

– Foreigners led the buying team with 1.4 billion baht of net buy, coupled with 524 million baht from proprietary Trading to buoy SET Index by 11.7 points.

– Moody’s expected airline passenger demand to gain footing in late 2023.

– British Airways to immediately cease Boeing 747 operations while expecting to sack 12,000 jobs for its business to survive.

– PTT issued an offshore 50-year debenture with attractive ratings from Fitch and Moody’s.

– CGS-CIMB expected a downturn for CPALL in the first quarterly loss by THB 81 million.

– SICT settled the IPO price at ฿1.38/share, expecting for the first trading day on July 30, 2020.

– The analyst was slightly positive on STGT regarding the ban on Top Glove by the U.S., affirming outperform rating with a target price at ฿91.00/share.

– STEC expected two more projects to push its backlog over 100 billion baht.

– BJCHI booked THB 4.2 billion of backlog and expected an additional 20% revenue from future projects in 2020.

– Stocks in Focus on July 17, 2020: DRT (Maybank Kim Eng TP at ฿7.00/share) and STEC (KGI Securities TP at ฿19.20/share).

 

Top 10 Most Impact Shares on July 17, 2020