Thai Stock Market Roundup March 30, 2020

– SET Index closed at 1,087.82 points, decreased 11.94 points or 1.09% with a trading value of 41.1 billion baht. The analyst stated that the plummet in today’s session was in line with the regional markets, except Australia that had announced a stimulus plan earlier.

The analyst expected volatile sessions to continue as the situation of coronavirus was still not stable and the stimulus plan from the Thai government only aimed to remedy people affected by the outbreak, but the remedial for corporates were not clear.

The analyst stated that there could be a window dressing before closing the quarter in tomorrow’s session while setting a support level at 1,070 points and a resistance level at 1,130 points.

– After buoying the market last week, Local Institutions turned to a net sell of 2.4 billion baht, combining with another 1.02 billion baht from Foreign Investors to plunge SET Index by 12 points.

– Global coronavirus cases hit 720,000, Italy saw a decline in death toll for the 2nd day.

– SEC approved the postponement of financial statements by 3 months for companies affected by the coronavirus outbreak.

– S suspended hotel operations in response to COVID-19 outbreak while maintaining all employees’ positions.

– Phuket to shut down the island to contain the spread of coronavirus.

– TRUE budgeted ฿1.5bn for a share repurchase program not exceeding 500 million shares.

– BA suspended 30 routes while introducing measurement to mitigate impact from coronavirus outbreak.

– MAJOR extended a closure of cinemas and bowling nationwide till Apr 30 amid covid-19 outbreak.

– THAI temporarily cancels flights Apr 1-May 31, expecting less negativity in the overall.

– AAV booked ฿3.6bn from sale and leaseback of 9 aircraft, adding liquidity to its operations.

– Stocks in Focus on March 30, 2020: BEM (KGI Securities TP at ฿10.00/share) and INTUCH (Krungsri Securities TP at ฿79.00/share)

 

Top 10 Most Impact Shares on March 30, 2020