Thai Stock Market Roundup January 7, 2020
A short summary to inform investors of what had happened in the Thai stock market on January 7, 2020.
– SET closed at 1,585.23 points, increased 16.73 points or 1.07% with a trading value at 61.9 billion baht. The analyst stated that SET Index rebounded following the direction of global stock markets after a huge plummet yesterday. However, the tension between the U.S. and Iran must be monitored closely.
The analyst still viewed the dispute as a risk and recommended profit-taking, especially oil-related stocks which had risen quite high recently. For holding, the analyst recommended defensive stocks and good dividend-yield stocks.
– Foreign Investors and Proprietary Trading combined a net buy of 1,089 million baht to buoy SET Index by 16.7 points.
– China to maintain grain import quotas, despite a promise to increase US agricultural import products.
– BEM accepted EXAT’s proposal to end 17 disputes in exchange of a 15.8-year concession.
– ACG announced that “Honda Maliwan” would make further investment to open its 3rd branch in Phuket.
– PTTGC settled a company “PT GCM Marketing” to support polymers trading in Indonesia.
– CHEWA issued a 2-year debenture not exceeding 600 million baht for the funds and major investors.
– SUPER invested in solar power plant project in Vietnam with a capacity of 50MW.
– IMH aimed to increase its customer base to 1.2 million this year, expecting a 30% growth in revenue.
– US House to vote on limiting Trump’s military power in Iran.
– US denied Iranian foreign minister visa to attend the UN meeting in New York.
– GUNKUL invested 780 million baht to increase its stake in IAE to 99.99%, holding the rights in 87MW power plant and 11 projects in the estate.
– Analyst expected a solid 3Q20 normalized profit from BTS, awaiting ฿100bn project in 2Q20.
– Stocks in Focus on January 7, 2020: BGRIM (Asia Wealth Securities TP at ฿59.00/share) and MAKRO (CGS-CIMB Securities TP at ฿45.25/share).
Top 10 Most Impact Shares on January 7, 2020