Thai Stock Market Roundup April 13, 2020

– SET Index closed at 1,236.78 points, increased 8.75 points or 0.71% with a trading value of 49.4 billion baht. The analyst stated that the Thai stock market moved narrowly in the opposite direction of regional markets as the outlook of the coronavirus outbreak seemed better with a decline of infection numbers, indicating that the outbreak in the country could slow down in the next few weeks and a curfew would be lifted.

The analyst suggested to monitor the importance of data announcements such as China’s exports/imports data, while the announcement of financial statements of Thai banking sector would be released in the next few days. Tomorrow’s session was expected to move sideways with a support level at 1,200-1,180 points and a resistance level at 1,240-1,250 points.

– A net buy of 2,031 million baht from Local Institutions buoyed SET Index to close 9pts higher amid a decline in regional markets.

– UK’s 2Q20 GDP to contract as much as 30% as a lockdown continues amid the outbreak of coronavirus.

– Oil prices rose after OPEC+ agreed on the output cut of 9.7 million bpd.

– THAI dropped 12.6% to ฿5.55 as the Ministry of Finance denied the rumor of “Charoen Sirivadhanabhakdi” aiming to take over the business, and the airline should remain as a state enterprise.

– Analyst recommended “BUY” CPF at ฿35.8, seeing 1Q profit to surge as swine prices jumped.

– Analyst pointed out a buying opportunity for MTC with positive view on soft loan and a target price at ฿52.00

– STC expected 1Q20 performance to outperform with a 600 million baht worth of backlog and acquiring long-term projects from the state.

– SABINA issued an interim dividend at ฿0.62/share.

– KUMWEL issued an interim dividend at ฿0.07/share.

– Stocks in Focus on April 13, 2020: JMART (Kingsford Securities TP at ฿12.30/share) and IVL (Krungsri Securities TP at ฿38.00/share).

 

Top 10 Most Impact Shares on April 13, 2020