Thai Stock Market Roundup March 23, 2020

– SET Index closed at 1,024.46 points, declined 102.78 points or 9.12% with a trading value of 59.6 billion baht. The analyst stated that the SET Index fell on Monday which was in the same direction of other stock markets including European markets as well as Dow Jones Futures.

The decline was due to none other than fears over the outbreak of coronavirus that still has yet to see its end in sight. The analyst stated that Asian markets will continue to trade off negative sentiment coming out of Europe and the U.S.

The analyst recommended investors to monitor the MPC’s meeting on March 25 as well as the BOE meeting and the announcement of the U.S. 4Q19 GDP on March 26.

The support level for tomorrow’s session is 970-940 points and the resistance level is 1,070-1,090 points.

– Foreign Investors, Local Institutions and Proprietary Trading withdrew from the market with a total of 6.8 billion baht selloff.

– JMART introduced business plans amid the virus outbreak and emphasized sufficient cash flow.

– Retail stocks fell dramatically after the 22-day shut down measures from BMA.

– Japan’s PM Abe said Tokyo Olympics delaying was possible but no option of cancelling.

– NYSE prepared to launch its first all-electronic trading day to prevent coronavirus.

– Airline businesses shed tears as stocks declined over 50% due to the coronavirus outbreak.

– SET exercised “Circuit Breaker” on 15:25 after falling by 8%.

– Thai exports fell 4.47% in Feb, imports down 4.30% with a surplus of $3.9bn

– Hong Kong banned foreign arrivals and transits as imported cases rose significantly.

– CWT acquired additional shares in “Blue Solarfarm 3” with an investment of 113 million baht to hold a total of 60%.

– SCI acquired a project from PEA to construct a substation in Ubon Ratchathani.

– Stocks in Focus on March 23, 2020: BJC (Maybank Kim Eng TP at ฿53.00/share) and MTC (KTB Securities TP at ฿75.00/share)

 

Top 10 Most Impact Shares on March 23, 2020