Telecom Stocks Surge from Higher Data Usage amid Market Plummet over Covid-19 Outbreak!

The share price of telecommunication stocks surged in the morning session of March 19, 2020, despite a plummet in SET Index by 30.91 points or 2.95% due to concerns over coronavirus outbreak.

 

True Corporation Public Company Limited (TRUE) jumped ฿0.16/share or 5.76% to close the morning session at ฿2.94/share with a trading value of 414 million baht.

Advanced Info Service Public Company Limited (ADVANC) rose ฿3.00/share or 1.67% to close the morning session at ฿183.00/share with a trading value of 1,359 million baht.

Total Access Communication Public Company Limited (DTAC) hiked ฿1.25/share or 4.03% to close the morning session at ฿32.25/share with a trading value of 100 million baht.

 

Analysts stated that telecommunication stocks will benefit from the “Work from Home” measure during the outbreak of coronavirus due to high data usage from daily work and web browser consumption from reading news. Moreover, each provider is promoting “Work from Home” internet packages with an increased speed and higher data usage allowance.