Thai Stock Market Roundup August 7, 2019

– SET closed at 1,669.44 points, declined 2.04 points or 0.12% with a trading value of THB 84.4 billion. Analyst stated that the market made a huge jump after the MPC announced the rate cut by 0.25%, but faced a selloff for profit taking from bank and energy sectors, causing the market to edge lower today. The cut showed that the economy is not doing well, but the market still has some hope from the government stimulus plans.

– Foreign Investors and Proprietary Trading poured their stocks back to the market for a total of THB 4.6 billion while Institutions scooped everything that had been poured to their portfolio.

– INTUCH booked 2Q profit 11% lower at ฿2.94bn, paying ฿1.35 dividend, XD August 19, 2019.

– NOBLE 2Q profit soared 164% from higher sales, aiming to move forward to invest in SERVE.

– A plummet of revenue dragged SYNNEX’s 2Q profit down by 26%, but the company still pay an interim dividend at ฿0.15/share.

– GPSC 2Q19 profit edged higher by 3% to reach ฿1,081m, asserting a consistency in sales.

– IVL jumped 2%, beating SET Index with the rumors of a new acquisition in USA.

– MPC voted to reduce policy rate by 0.25%

– Lower sales pressures LPN to record 2Q profit at ฿176mm, facing a decline of 29%.

– MTC reached an all-time high at ฿64.50/share, before closing lower at ฿64.00/share in the welcoming of lowering policy rate by 0.25%.