Thai Stock Market Roundup September 19, 2019

– SET closed at 1,640.66 points, plunged 13.48 points or 0.81% with a trading value of 57.2 billion baht. Phillip Securities stated that today’s session in the Thai market was worse than anticipation which reflected that investors still had some worries over the world economy. Moreover, some investors intended to sell their shares to buy AWC’s IPO in the upcoming days.

Phillip Securities expected a quiet session tomorrow, setting a support level at 1,630 and a resistant level at 1,650.

– Institutions left Thai market with a net sell of 3.1 billion baht after Fed’s second rate cut while Individuals took a chance to scoop up shares at lower prices.

– 7UP  sold 60% of M-Link shares to book 60 million baht, putting half the amount to invest in ERV.

– SEAFCO acquired five new projects with a total value of 218 million baht.

– Tris Ratings downgraded ACAP to “B” from strained cash position and weakened governance standard.

– U invested 5 billion baht in a joint investment with Fortune Hand Ventures Limited to establish Verso International School.

– CPF saw no impact from ASF while asserting a higher demand of chicken from China.

– RPC jumped as much as 28% after the Civil Court ordered PTT to compensate for the damage of the unlawful termination of the agreement.

– BTS agreed to ฿65/trip fare cap, shouldered ฿100bn debt in exchange of concession.

– Stocks in Focus on September 19, 2019: BGRIM (Krungsri Securities IAA Consensus TP ฿46.00/share) and CK (Krungsri Securities IAA Consensus TP ฿31.00/share).