Thai Stock Market Roundup December 28, 2020

– SET Index closed at 1,452.67 points, decreased 33.64 points or 2.26% with a trading value of 103 billion baht. The analyst stated that the Thai stock market made a jump in the morning session, but started to decline in late morning and dipped into the negative territory at the end of the session. The decline might be due to a profit taking before the long holiday and the institutional investors’ window dressing and portfolio adjustment. Meanwhile, the resurgence of the coronavirus could weigh investors’ sentiment down as the spread in Thailand has widened.

More importantly, the decline at the end of session was due to the selling pressure from DELTA, BAY and AEONTS after a series of gains.

In addition, the analyst suggested investors to monitor the resurgence of the coronavirus outbreak in Thailand, giving a support level at 1,450 points and a resistance level at 1,485 points.

– Foreign Investors and Institutions combined a ฿5.4Bn of net sell to plunge SET Index by 33.64 points.

– Trump finally signed the government spending and the $900Bn Covid-19 relief.

– BGRIM commenced the operation of a solar farm in Cambodia, adding 39MW to total production capacity.

– STGT’s EGM approved the par splitting and a change in the dividend payment policy to 50% of net profit from the previous 30%.

– TTCL acquired a ฿3.3Bn construction contract for a power plant in Chonburi.

– DELTA affirmed no significant development after the share price spiked 90% in a week. Meanwhile, Mr. Pakorn Peetathawatchai, President of the Stock Exchange of Thailand (SET), found no irregularity in the trading session, asserting that the trading was not made by one particular group of investors.

– BGRIM’s new CEO “Harald Link” targeted 7,200MW production capacity in 2025.

– GUNKUL commenced the COD of Vietnam’s 50MW-solar farm.

– BTS Group acquired an additional 2% of KEX to push its total shareholding stake to 21%.

– ACE commenced the operation of Krabi’s solid waste power plants with a total capacity of 10.4MW.

– “Kasikorn Research Center” expected Covid-19 resurgence to diminish domestic travelling revenue by ฿5.8Bn.

– ORI’s 2021 profit to outpace the property development sector as the analyst recommended BUY at a target price at Bt10.00/share.

– Stocks in Focus on December 28, 2020: SPA (Kasikorn Securities TP at ฿9.30/share) and JMT (Maybank Kim Eng TP at ฿38.00/share).

 

Top 10 Most Impact Shares on December 28, 2020