Thai Stock Market Roundup March 24, 2020
A short summary to inform investors of what had happened in the Thai stock market on March 24, 2020.
– SET closed at 1,033.84 points, increased 9.38 points or 0.92% with a trading value of 64.1 billion baht. The analyst stated that the SET Index made a high jump at the open after hearing of the U.S. ‘s QE. However, the outbreak of coronavirus in Thailand remained uncertain of how far it will continue while the stimulus plans from the cabinet did not surprise the market as much as it should.
The support level for tomorrow’s session is 1,000-970 points and the resistance level is 1,070-1,100 points.
– A selloff from Foreign Investors nearly 2 billion baht limited SET’s acceleration to only 9 points.
– Thailand reported an additional 122 cases with 3 deaths, bringing the figure to 827:4
– IOC’s Vice President denied the Tokyo Olympics postponement rumors.
– SPCG approved a share repurchase program not exceeding ฿250mn from Apr 4 to Sep 30.
– TACC invested 50 million baht for a share repurchase program.
– Thai PM announced an emergency decree to be enforced on Mar. 26, 2020.
– Thai cabinet issued remedial measures for workers without social security benefits.
– Thai Cabinet approved a 10 billion baht stimulus package to support SME, lower interest from loan and extend the tax payment to remedy those affected by the virus outbreak.
– Stocks in Focus on March 24, 2020: BAM (Maybank Kim Eng TP at ฿25.00/share) and CPALL (Krungsri Securities TP at ฿88.00/share)
Top 10 Most Impact Shares on March 24, 2020
