Thai Stock Market Roundup January 24, 2020

– SET closed at 1,569.55 points, decreased 4.15 points or 0.26% with a trading value of 47.5 billion baht. The analyst stated that the negative sentiment on coronavirus still tormented the Thai market since Chinese are the main visitors for Thai tourism. Meanwhile, the uncertainty about FY2020 budget was also the main factor that kept the index lower.

Due to no new positive factor for the market, the analyst suspected that investors could make a selloff for profit-taking before the weekend.

In addition, the analyst expected SET Index to be volatile next week, waiting for positive factor to buoy the market. Thus, the analyst set a support level at 1,555-1,560 points and a resistance level at 1,585 points.

– Foreign Investors and Local Institutions made net sell for a total of 1.7 billion baht to pressure SET Index with another negative session.

– COTTO made a turnaround to book 168 million baht of net profit in 2019 from land selling.

– BBL expected BoT approval on “Permata” within 3Q, emphasizing that the bank does not need to raise equity for the deal.

– GUNKUL acquired a project to construct a building and solar farm with a project value of 584 million baht.

– Chinese death toll reached 25! Shanghai’s stock collapses nearly 2.8%.

– Kasikorn Research cut Chinese arrivals by 3% as fear of coronavirus and death toll rose.

– WHO said no ‘global emergency’ yet for China virus.

– ACE hit the floor after “Prayut” executed an immediate order to transfer “Wirachai”. The company asserted that the movement of Wirachai had no impact on its operation.

– AMATA entered into a joint venture with Myanmar to develop Smart & Eco-City in Yangon.

– THAI issued preventive measures against contracting novel coronavirus to boost passenger confidence.

– Stocks in Focus on January 24, 2020: TTW (Country Group Securities TP at ฿16.80/share) and KCE (Kingsford Securities TP at ฿16.70/share).

Top 10 Most Impact Shares on January 24, 2020