Thai Stock Market Roundup February 17, 2020
A short summary to inform investors of what had happened in the Thai stock market on February 17, 2020.
– SET closed at 1,527.25 points, increased 0.95 points or 0.06% with a trading value of 52.4 billion baht. The analyst stated that investors were weighing impact from coronavirus as cases from the cruise ship near Tokyo increased to 454. Meanwhile, China’s central bank cut mid-term loan interest rates by 10 basis points to help its economy affected by the virus outbreak.
The analyst also stated that there were still no major positive factors to buoy the whole market except for the positive factor to telecommunication operators and those related to network installation works after the bidding for 5G concession.
The SET Index swung sideways in today’s session with not much trading value. The analyst advised investors to keep an eye on the announcement of the 2019 financial statement and the court decision on dissolving Future Forward Party this Friday, which could have an impact on political issues.
The analyst expected the support level at 1,520 points and the resistance level at 1,535-1,540 points.
– Local Individuals buy the dips for 2,287 million baht, buoying SET Index in the volatile session to close slightly higher by 0.95 points.
– ADVANC surged nearly 5% to ฿214.00/share after acquiring nearly half of available licenses for 5G in the bidding.
– GM to withdraw “Chevrolet” from the Thai market by year-end, losing 1,500 jobs at the manufacturing plant.
– NESDC cut Thailand’s 2020 GDP growth forecast to 1.5 – 2.5%.
– China cut interest rates for mid-term loans to remedy the economy from the virus outbreak.
– BTS’ profit in 3Q20 and 9M20 jumped over 100% after booking higher profit from JV businesses.
– TASCO’s profit in 2019 soared 4.5 folds as revenue from sales and service hit ฿36.9 billion.
– SMART booked a net profit of ฿44.23mn while approving a dividend payment at ฿0.05/share.
– TU’s net profit to grow 17.19%, offering a dividend payment at ฿0.22/share.
– ITEL jumped 14.41% in response to acquiring more projects in the future once telecom operators start their 5G projects.
– Stocks in Focus on February 17, 2020: ADVANC (Finansia Syrus Securities TP at ฿260.00/share) and BTS (KTB Securities TP at ฿14.60/share).
Top 10 Most Impact Shares on February 17, 2020
