Thai Stock Market Roundup on August 21, 2020
A short summary to inform investors of what had happened in the Thai stock market on August 21, 2020.
– SET Index closed at 1,299.26 points, increased 2.47 points or 0.19% with a trading value of 42.2 billion baht. The analyst stated that the Thai stock market moved in sideways trends below regional markets due to the depreciated baht that weighed the market down. Stocks related to exports would gain an advantage over the depreciation, while stocks related to power plants would see a disadvantage. In the meantime, the gross refinery margin continued to have a slow recovery.
The analyst advised investors to monitor FTSE rebalancing, expecting SET Index to move sideways next week with a support level at 1,280-1,260 points and a resistance level at 1,320-1,324 points.
– Individuals buy the dips as SET Index dropped lower 1,300 points, buoying the index to close 2.47 points higher.
– ITEL acquired an installation work of fiber optic from PEA worth ฿249Mn.
– PTT announced a major shareholding restructure, acquiring the entire GPSC’s shares from TOP.
– UWC disposed of three biomass plants to ACE, expecting earnings to rebound in FY21.
– BCPG announced a capital increase of 1.3Bn shares to invest in power plant projects.
– Stocks in Focus on August 21, 2020: MAKRO (Maybank Kim Eng TP at ฿45.00/share) and SYNEX (Kasikorn Securities TP at ฿15.50/share).
Top 10 Most Impact Shares on August 21, 2020
