Thai Stock Market Roundup March 19, 2020
A short summary to inform investors of what had happened in the Thai stock market on March 19, 2020.
– SET closed at 1,044.19 points, decreased 3.96 points or 0.38% with a trading value of 61.6 billion baht. The analyst stated that the SET Index performed better than other regional markets in today’s session after seeing European markets opened higher in hopes of ECB’s stimulus package.
The Thai market also expected a stimulus package from the Thai government to fight the outbreak of coronavirus that infected over 200 people with 1 casualty.
The analyst expected SET Index to continue moving sideways until further stimulus plans were announced.The support level for tomorrow’s session is 1,020-1,030 points and a resistance level is 1,050-1,060 points.
– Buying pressure from Individuals and Proprietary Trading pulled the SET Index up from a decline of 30pts to close slightly lower by 4pts.
Trump signed the Defense Production Act to combat coronavirus while preparing a $1 trillion stimulus package for Americans.
– Australia’s central bank cut interest rate by 0.25 percentage point to 0.25%.
– MAJOR announced closure of cinemas in Cambodia, and close bowling, karaoke, skating fields in Thailand.
– “Prudential” stepped up as TMB’s bancassurance partner after acquiring the selling rights from FWD.
– Telecommunication stocks surged from higher data usage amid market plummet over the coronavirus outbreak.
– IVL extended the completion of the PTA-PET factory in the U.S. to 2023 due to higher construction cost.
– TQM hit the ceiling due to an anticipation of higher revenue from covid-19 insurance.
– Stocks in Focus on March 19, 2020: INTUCH (Kasikorn Securities TP at ฿76.09/share) and TU (Krungsri Securities TP at ฿17.50/share)
Top 10 Most Impact Shares of March 19, 2020
