Thai Stock Market Roundup on August 14, 2020

– SET Index closed at 1,327.05 points, decreased 19.64 points or 1.46% with a trading value of 58 billion baht. The analyst stated that the Thai stock market traded lower, in line with other stock markets, especially the European markets and Dow Jones Futures.

The analyst stated that there are uncertainties in the market that caused investors to pull back, such as the trade talk between the U.S. and China, the political issues in Thailand and the anticipation of Thailand’s 2Q GDP that was expected to contract by 13-14% YoY.

The big caps such as energy stocks and commercial banks were unable to climb, causing the market to rebasing, said the analyst.

As for next week’s session, the analyst expected a support level and a resistance level to be between 1,300 – 1,350 points.

– Foreign Investors and Local Institutions combined a 4.5 billion baht selloff, plunging SET Index nearly 20 points.

– CPF’s 1H earnings jumped 45% to ฿12Bn with a ฿0.40 dividend, expecting 2H to remain robust.

– CHAYO’s 2Q profit jumped 50% due to higher interest income, offering a dividend in cash & stock.

– BGRIM bucked the trend of the economic downturn caused by the Covid-19 pandemic with a robust 62.5% rise in the second-quarter net profit.

– SET suspended THAI and NOK after auditors did not express conclusions on their financial statements.

– NOBLE booked nearly 2 billion baht of revenue in 2Q20, pushing its profit over 300 million baht.

– BTS’ profit dropped by 50% to ฿443M as ridership fell during pandemic while expenses rose.

– RATCH reported a 45% drop in 2Q earnings due to planned maintenance shutdown of 2 power plants.

– CENTEL reported a net loss of ฿465M in 2Q20 due to the impact of lockdown.

– CPN’s 2Q profit fell 81% to ฿467M due to the impact of Covid-19.

– PSTC turned to book a net loss of ฿1.08Bn in 2Q after recording higher SG&A expenses.

– SAWAD’s 2Q profit surged 12% to ฿982M after booking higher revenue from interest income.

– Stocks in Focus on August 14, 2020: ORI (KTB Securities TP at ฿9.70/share) and JMT (KGI Securities TP at ฿40.00/share).

 

Top 10 Most Impact Shares on August 14, 2020