Thai Stock Market Roundup February 21, 2020
A short summary to inform investors of what had happened in the Thai stock market on February 21, 2020.
– SET closed at 1,495.09 points, increased 3.85 points or 0.26% with a trading value of 56 billion baht. The analyst stated that SET Index opened lower and moved in negative territory all day before making a technical rebound after the Constitutional Court issued an order to dissolve the Future Forward Party not long before the closing of the trading day. The dissolve would increase stability for the government, led by the Palang Pracharath Party.
However, the market still has a bearish outlook due to the coronavirus outbreak and the plummet in GDP forecast in 1Q20 and 2020.
In addition, the analyst expected SET Index to recover after bearish sessions this week, setting a support level at 1,480-1,475 points and a support level at 1,500-1,510 points.
– Local Institutions, Proprietary Trading and Individuals combined a 2.7 billion baht of net buy to pull SET Index higher before closing.
– ALT rejoiced as the Supreme Court ordered the counterparty to pay indemnification worth 375 million baht.
– The Constitution Court issued an order to dissolve the Future Forward Party.
– Goldman Sachs cut Thai GDP in 2020 from 2.3% to 2.1% mainly due to the plummet of tourist, coronavirus, drought and delay FS2020 budget.
– COM7’s 2019 profit soared 36%, offered a dividend and special dividend at ฿0.80/share in total.
– CPN reported a 2019 net profit of 11 billion baht and offered a dividend at ฿1.30/share.
– FSMART booked a net profit of ฿584 million, presented a dividend at ฿0.34/share.
– Baht appreciation pressured BANPU to report a net loss of ฿552m with a dividend at ฿0.25/share.
– BPP’s 2019 net profit dipped 22% due to a decrease of income, approved a dividend at ฿0.30/share.
– TIGER’s profit dropped 11.03% to ฿79.24mn, offered a dividend at ฿0.18/share.
– CPF’s profit in 2019 jumped nearly 20%, offered a dividend at ฿0.40/share.
– The 2019 net profit of JUBILE rose 37.15% to ฿262mn, offered a dividend at ฿0.49/share.
– DOHOME’s profit skyrocketed by 65.4% to ฿725mn.
– Stocks in Focus on February 21, 2020: CBG (KTB Securities TP at ฿123.00/share) and COM7 (KGI Securities TP at ฿31.50/share).
Top 10 Most Impact Shares on February 21, 2020
