Thai Stock Market Roundup January 31, 2020
A short summary to inform investors of what had happened in the Thai stock market on January 31, 2020.
– SET closed at 1,514.14 points, decreased 9.85 points or 0.65% with a trading value of 56.3 billion baht. The analyst stated that the Thai market had a buying pressure at the open but fell off right after as concerns over coronavirus remained. In the afternoon, the index continued to plunge following Dow Jones Futures that turned from a gain to loss.
Moreover, Local Institutions and Foreign Investors were constantly making a selloff. Some analysts expected that the selloff was an adjustment in the portfolio for the upcoming big IPO, CRC.
The analyst set a support level at 1,500 points and a resistance level at 1,540 points.
– Foreign Investors made a selloff for 4 billion baht, following the announcement of a Public Health Emergency from WHO on coronavirus.
– WHO declared coronavirus a Public Health Emergency as the death toll rose to over 200.
– China chartered a plane to bring the Hubei residents back from abroad.
– Analysts believed a claim made against the management of the Football Association of Thailand would not affect PLANB’s business.
– SCC joined a Japanese partner to strengthen packaging paper business in the Philippines.
– Stocks in Focus on January 31, 2020: PLANB (KGI Securities TP at ฿11.40/share) and CPN (DBS Vickers Securities TP at ฿74.00/share).
Top 10 Most Impact Shares on January 31, 2020
