Thai Stock Market Roundup March 13, 2020

– SET closed at 1,128.91 points, increased 14 points or 1.26% with a trading value of 119 billion baht. The analyst stated that the SET Index was very fluctuated in today’s trading session with a gap of 198.08 points between the session’s high and low as fears over the global coronavirus outbreak continued to weigh on investors sentiment.

The bounceback, though fluctuated, was due cheap valuations after plunging to 970 points, coupled with short-sell restriction from the SET and news over another QE by the Fed.

The buying pressure slowed down at the end of the session due to no solid measures on how to contain the outbreak in Thailand, thus, investors chose to wait and see how it would play out during the weekend.

The analyst gave a support level at 1,100-1,050 points and a resistance level at 1,150-1,200 points, while stating that a drop lower than 1,000 points might be hard to occur.

– Institutions made a buying-solo with ฿10.8bn in value, saving the SET Index from sinking into the abyss.

– Canadian Prime Minister Justin Trudeau’s wife tested positive for Covid-19.

– Trump showed no concern after one of his Brazilian visitors, whom he dined with, tested positive for Covid-19.

– Amid volatility in oil price, SEAOIL ensured that the operation plan on on-shore concession L53/48 would proceed as planned since average operating expenses for now are still acceptable with no operating loss suffered.

– HMPRO’s SSSG fell 3% in the first two months of 2020.

– SET triggered a circuit breaker in less than 1 minute after the opening bell as the index fell 10%.

– TQM’s executives purchased 400,000 shares of TQM, showing confidence in the company.

– Stocks in Focus on March 13, 2020: BAM (Maybank Kim Eng TP at ฿28.00/share) and TOA (KTB Securities TP at ฿40.00/share)

 

Top 10 Most Impact Shares on March 13, 2020