Thai Stock Market Roundup August 26, 2019
A short summary to inform investors of what had happened in the Thai stock market on August 26, 2019
– SET closed at 1,622.73 points, decreased 23.95 points or 1.45% with a trading value of THB 64.69 billion. Today, the SET Index declined in the same direction as the regional market due to the trade tension between the U.S. and China.
On Friday, August 23, 2019, China said that it will retaliate by imposing additional tariffs of 5% – 10% on U.S. products. Later, Trump salvoed back at China by demanding U.S. companies to cut ties with China and announced that he would raise tariffs again. 250 billion dollars worth of Chinese products will be imposed with 30% tariffs, up from 25% to be effective on October 1. However, China opened to “Calm” negotiation, saying no winner amid the escalation of the trade war.
Dow future edges higher near 1% after Trump confirmed a calling from China to renegotiate.
– Stocks in Focus on 26 August 2019: AMATA and BGRIM
– AMATA: Finansia Syrus Securities recommended “BUY” AMATA Corporation Public Company Limited (AMATA) share with the target price of ฿28/share.
– BGRIM: AIRA Securities recommended “buy for investment” BGRIM share with the target price of ฿39.00/share based on DCF method.
– IVL closed the day at ฿30.50/share, fell ฿4 or 11.59%. The high IVL’s share price was ฿33/share and the lowest was ฿30.50/share with the trading value of THB 2.67 billion. The share price of IVL has sharply dropped in 2 years and 10 since the price closed at ฿29.25/share on 31 October 2016. The decline of IVL’s share price might due to the trembling from the effect of the trade war to crumble production in the U.S.
– Maybank saw negative momentum to continue in the near term, recommending accumulation.
– ILINK signed a contract to purchase and installation of military telecommunication network worth ฿36 million.
– Foreign Tourists increased by 4.72% in July as 5.81% of Chinese traveled more to Thailand.
– BST invested ฿200m in “Future Domain” and “Majestic Park” for land purchasing business
Top 10 Most Impact Shares on August 26, 2019
