Thai Stock Market Roundup July 31, 2019

– SET closed at 1,711.97 points, rose 5.48 points or 0.32% with a trading value of THB 50.85 billion. SET Index was able to rebound amid the plummet of regional markets after a huge selloff in yesterday’s trading session. Moreover, investors are waiting to see a rate cut from the FOMC meeting which could be a major factor to buoy the index to 1,750 points.

– Institutions net bought THB 1,558.83 million, switching the SET Index to close higher 5.48 points.

– Stocks in Focus on 31 July 2019: AMATA  and RATCH
      – The analyst stated that a sale and land transfer of AMATA has been brighter in the 2Q2019 due to moving base productions of Chinese investors and an increased in 92% QoQ of land transfer to approximately 154 rai. Therefore, the analyst recommended “BUY” AMATA share with the target price of ฿28.00/share.
      – The analyst recommended “BUY” (RATCH) share with the target price of ฿72.00/share for three reasons. Firstly, there is an upside in RATCH’s share price from a profit growth that could hit an all-time high this year. Secondly, RATCH has acquired 700MW of Independent Power Producer (IPP) and recently, 150MW of a wind farm in Australia. Thirdly, The analyst expected a 2Q/2019 profit growth to be better in both YoY and QoQ from the commencement of 34.7MW Berkprai Cogeneration SPP.

– OCEAN reported ฿20 million profit in 2Q19 from palm oil trading business growth. Today’s session, OCEAN closed the day at ฿1.34/share, increased ฿0.10 or 8.06%. Moreover, during the session, the highest of OCEAN’s share was ฿1.39/share and lowest was ฿1.29/share with a trading value of ฿51.25 million. A sudden rise of OCEAN’s share today, might due to the financial statement report from OCEAN that turned from a net loss of 28.05 million in 2Q18 to book THB 20.60 million THB profit in 2Q19.

– “Thavich” scooped 13.8 million of IFEC shares, emphasizing on his confidence in the company.

– PTTEP topped the stake in “Sinphuhorm Project” with ฿2.3 billion to expand investment in Thailand.

– DELTA’s 2Q19 profit dropped 37% to 872 million due to the increase in selling and admin expenses.

– The analyst estimated SET Index to soar above 1,750pts from Fed’s rate cut and dovish signal.

– “Peeraphong” asserted a rumor of capital increase was baseless, affirming a strong business.