Thai Stock Market Roundup January 16, 2020

A short summary to inform investors of what had happened in the Thai stock market on January 16, 2020.

SET closed at 1,595.87 points, increased 14.82 points or 0.94% with a trading value of 62.1 billion baht. The analyst stated that the positive sentiment from the signing of “Phase One” trade deal supported the market. Meanwhile, TISCO and KTC had already announced positive yearly financial statements, sending the banking sector to respond positively.

The analyst expected tomorrow’s session to be sideway up with a support level at 1,585-1,580 and a resistance level at 1,600-1,620 points.

Local Institutions and Individuals rejoiced about the “Phase One” trade deal, committed a net buy of 2.3 billion baht.

– Nomura expected PYLON’s 4Q19 profit to reach an all-time high, recommended a target price at ฿7.60/share.

– Analyst revised down KTC’s target price to ฿45.00/share due to higher NPL in 2H19.

Kerry Thailand expected to raise 6,058 million baht in IPO accelerate investment needed to meet surging demand generated by e-commerce and online shopping.

– Analysts raised unclear issues over the “Phase One” agreement between US-China.

TTCL signed a ฿500M contract for oil and gas terminal construction in Myanmar.

GULF rose to an all-time high at ฿200.00/share during the session, but edged lower to close at ฿197.50/share. Still, the share rose ฿6.50/share or 3.40%.

DTAC’s CEO Alexandra Reich resigned from the position, Boards approved Sharad Mehrotra to replace Alexandra Reich as a CEO.

– Stocks in Focus on January 16, 2020: ORI (Kasikorn Securities TP at ฿10.80/share) and TASCO (Asia Wealth Securities TP at ฿26.00/share).

 

Top 10 Most Impact Shares on January 16, 2020

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