Thai Stock Market Roundup January 3, 2020

– SET closed at 1,594.97 points, decreased 0.85 points or 0.05% with a trading value of 61.2 billion baht. The Thai stock market edged lower on January 3 after a gain in the morning session. The index started to decline in the afternoon after a stumble opening in European markets while Dow Jones Future also dropped.

This was due to the escalated tension in the middle east after the U.S. ordered an airstrike at Baghdad International Airport, which killed Iranian Major-General Qassem Soleimani, head of the elite Quds Force and top Iraqi militia commander Abu Mahdi al-Muhandis.

Meanwhile, the market still needs positive factors to support after the successful U.S.-China trade deal has already priced-in.

– Individuals took the opportunity to sell for profit-taking in fear of rising tension in the middle east, causing SET to decline 0.85 points.

– The banking sector expected to post a ฿49.7bn of profit in 4Q19 while the analyst forecasted SCB and TMB to have an outstanding profit growth.

– TRUE was the first operator to pick up the bidding envelope for 5G from NBTC.

– Oil prices surged 4% after the report of the attack in Baghdad, killing Iranian Major-General Qassem Soleimani, head of the elite Quds Force and top Iraqi militia commander Abu Mahdi al-Muhandis.

– GULF invested 1,960 million baht to acquire 49% stake in Hin Kong Power Project with a total installed capacity of 1,400 MW, expecting to COD in 2024.

– TEAMG signed a contract worth $815,522 for Hydroelectric Power Project in Lao PDR.

– The analyst advised investors to keep a close eye on the share price of CPALL and BJC as the first round bidding for Tesco will start in mid-Jan.

– Stocks in Focus on January 3, 2020: TOP (DBS Vickers Securities TP at ฿78.00/share) and STPI (Capital Nomura Securities TP at ฿8.70/share).

 

Top 10 Most Impact Shares on January 3, 2020