Thai Stock Market Roundup March 31, 2020

– SET closed at 1,225.86 points, increased 38.04 points or 3.50% with a trading value of 56.9 billion baht. The analyst stated that the Thai stock market made a rebound from a decline in yesterday’s session from the positive sentiment of higher Chinese PMI announced in the morning, which showed a limited impact and a fast recovery from the damage caused by the coronavirus outbreak.

The analyst suggested investors to monitor the development of the coronavirus outbreak and the outcome of oil producers such as the U.S., OPEC and Russia after the deal of cutting oil production ended today.

The analyst set a resistance level at 1,100-1,094 points and a support level at 1,133-1,147 points.

– Local Institutions added 5.9 billion baht worth of Thai shares to their portfolio, supporting SET Index to close 38 points higher.

– The World Bank expected Thai economy to contract 5% in 2020 amid the outbreak of coronavirus.

– Saudi Arabia expected an oil output of 10.6 million bpd by May.

– SPCG cancelled the share repurchase program of 14 million shares not exceeding 250 million baht.

– TMB jumped 7.3% after TCAP announced its interest in acquiring additional stakes in TMB.

– SET removed SP sign from PPPM after submitting 2019 financial statement.

– Analyst expected an upside on ADVANC with a greater economic growth, giving a target price of ฿257.00/share.

– TRC acquired two new projects worth 773 million baht.

– Stocks in Focus on March 31, 2020: CBG (Maybank Kim Eng TP at ฿69-฿81.00/share) and ORI (Asia Wealth Securities TP at ฿9.00/share).

 

Top 10 most impact shares on March 31, 2020