Thai Stock Market Roundup on October 27, 2020

– SET Index closed at 1,208.95 points, increased 0.98 points or 0.08% with a trading value of 45.7 billion baht. The analyst stated that SET Index dropped below the 1,200 support level during the session, but was able to rebound and closed slightly higher at the closing after a positive signal from the special parliamentary session indicated that the Thai PM agreed with an amendment of the Thai constitution.

The analyst gave advice to keep a close eye on the development of the coronavirus infections in the U.S. and Europe as well as the negotiation of the U.S. stimulus bills in which the market expected to come out before the election or the bills could get prolonged further.

In addition, the analyst expected SET Index to move narrowly in tomorrow’s session, giving a support level at 1,200 – 1,990 points and a resistance level at 1,220 points.

– A solo-buying session from Local Individuals buoyed SET Index to close higher by 1 point.

– RATCH signed an MOU to conduct a feasibility study of the Wood Pellet Project in Lao PDR.

– COTTO reported a jumping 95% in 3Q profit with well-managed expenses and lower cost of goods.

– HMPRO reported a decline of profit in 3Q by 5% as retail business entered the low season.

– JKN acquired “JKN Global Living” to expand health products and cosmetics distribution.

– BGC dropped more than 50% in a week in concerns of a suspected capital increase for three business acquisitions.

– The analyst estimated MTC to report a better-than-expected 3Q profit at ฿1.31Bn, recommending “BUY” at a target price of ฿69.00/share.

– The Court set the 2nd hearing for NOK’s rehabilitation plan on November 4, 2020.

– JMART expected a robust 4Q performance, driving by the long-awaited iPhone 12.

– Stocks in Focus on October 27, 2020: RBF (Maybank Kim Eng TP at ฿11.50/share) and MAJOR (KGI Securities TP at ฿16.40/share).

 

Top 10 Most Impact Shares on October 27, 2020