Thai Stock Market Roundup July 09, 2019

– SET closed at 1,721.48 points, dropped 9.55 points or 0.55% with a trading value of THB65 billion. Thai Market followed the direction of Asia markets to close lower. All eyes are on the testimony from Fed on Wednesday to see the direction of the U.S economy and whether there is a sign of cutting the interest rate or not.

– Institutions plunged the market by 9.5 points with a THB 2.95 billion selloff while Foreign Investors scooped THB 1.86 billion after yesterday’s profit-taking.

– Stocks in Focus on 9 July 2019: BCPG and WHAUP
       – BCPG was a low valuation stock in the sector which PE in 2019 equals to 22x and will decrease to 18x in 2020 (PE average 31x and 21x, respectively) due to a 2020 profit will increase 22.1% YoY and higher than the group average 15% YoY. Therefore, the analyst set the consensus’s target price of BCPG share at THB19.40 and the highest of consensus’s target price at THB23.50.
– WHAUP benefited from government forming which will move forward to support EEC project. Although the estimated valuation of the industrial sector is nearly full, WHAUP still has more than 40%upside, so, the analyst recommended “BUY” WHAUP share at the target price of THB9.00/share.

– TQM invested ฿5 million in “TJN Insurance Broker” for business expansion in non-life products.

– “Extradition Bill is Dead,” said Carrie Lam, marking the end of Hong Kong protests.

– STA closed the day at THB12.20, increased by THB0.60 or 5.17%. During the session, the highest of STA’s share price was at THB12.50 and the lowest was at THB11.80 with a trading value of THB217 million. A rise of STA’s share price might due to the effect from approval for the plan of issuance and offering of newly issued ordinary shares of Sri Trang Gloves (Thailand) Public Company Limited (STGT) for driving STGT to SET. Moreover, STA expected to raise the funds for financial support and business expansion.

– COM7 closed the day at THB24.50, rose THB1.9 or 8.41% During the session, the highest of COM7’s share price was at THB24.60 and the lowest was at THB22.60 with a trading value of THB1,322 million. Additionally, COM7 continued a rally after the entrance of BTS group to hold a 4.92% stake.

– NMG approved to notify shareholders for returning “Spring 26” license to acquire ฿675 million of compensation.

– KAMART rose 3-Day in a row for 10%, the analyst expected a 2Q19 profit to increase by 33.6%. Today, KAMART closed the day at THB5.65. increased by THB0.05 or 0.89%. During the session, the highest of KAMART’s share price was at THB5.90 and the lowest was at THB5.55 with a trading value of THB25 million.

Top 10 Most Impact Shares on July 09, 2019