Thai Stock Market Roundup January 9, 2020

– SET closed at 1,579.64 points, increased 20.37 points or 1.31% with a trading value of 66.5 billion baht. The analyst stated that the Thai stock market, again, moved in the direction of global markets after the U.S. President Donald Trump chose to retaliate Iran by using economic sanctions rather than military actions.

In the late afternoon, the UN also published a letter sent by Washington which stated that the country was willing to negotiate without preconditions, raising hopes for investors.

Moreover, China officially confirmed that its VP Liu He will be leading the negotiating team to sign the “Phase One” deal at Washington on January 13-15.

The analyst set a support level at 1,570 points and a resistance level at 1,590 points.

– A net buy of 2 billion baht from Local Institutions and Proprietary Trading skyrocketed SET Index by 20 points in the response of positive signal that the U.S. is willing to negotiate with Iran.

– PTT’s Chansin denied the news of PTTOR to participate in the bidding for Tesco operation in Thailand.

– CPF invested a billion NT$ to establish a subsidiary in Taiwan for selling egg products. The share price also starting to increase after the pork and chicken prices have started to recover.

– TOT and CAT collected the bidding envelope for 5G auction from NBTC.

– World Bank slashed 2019 global growth by 0.2% to 2.4%, forecasting 2.5% in 2020.

– CWT rejoiced as “SakunC” will take Thailand’s No.1 spot of minibus producer.

– WHO reported that the Pneumonia outbreak in China might be linked to SARS.

– Stocks in Focus on January 9, 2020: IVL (Maybank Kim Eng TP at ฿43.00/share) and AMATA (KGI Securities TP at ฿25.50/share).

 

Top 10 Most Impact Shares on January 9, 2020