Thai Stock Market Roundup April 22, 2020
A short summary to inform investors of what had happened in the Thai stock market on April 22, 2020.
– SET Index closed at 1,261.81 points, increased 8.89 points or 0.71% with a trading value of 76.8 billion baht. The analyst stated that the index rebounded in the afternoon due to its high resistance to current negative factors such as the plummet in WTI price, which reflected on only PTT and PTTEP. However, Thailand is not an oil producer, thus, receiving limited impact from the decline in oil prices.
The analyst asserted that the earnings of the banking sector were quite disappointed. The lower-than-expected decline in profits was due to the support from the state, while the operation outlook was not quite good. Which was the reason for the buying pressure in the afternoon session to focus on safe stocks such as power generation stocks and telecommunication stocks.
The analyst saw positive outlook for tomorrow’s session as the outbreak of coronavirus in Thailand started to get better, while setting a support level at 1,250 points and a resistance level at 1,273 points.
– Individuals, Proprietary Trading and Local Institutions combined a net buy of 2.75 billion baht to fend off Foreign Investors selloff.
– Coronavirus infected 2.53 million people globally.
– LHFG faced a net loss of ฿708M in 1Q20 after implementing TFRS9.
– BBL’s 1Q20 profit dropped by 15% from a decline of 36% in non-interest income.
– KTB announced a decline of 16% in 1Q20 net profit from lower NII and continual rate cuts by BOT.
– BAY’s 1Q20 profit sliped 44% in absence of a one-time gain “Ngern Tid Lor” in 1Q19.
– BFIT’s 1Q20 profit skyrockets over 5 folds to ฿314M after booking higher interest income.
– TRUE issued a debenture with 3.05%-4.5% interest rate for major investors and institutions.
– RATCH announced a successful drawdown for a power plant in Rayong, expecting a COD in 2022.
– PK formed a subsidiary in Indonesia to further a machine distributor and service business.
– SEAFCO expected profit in 2020 to be in line with its target at 3.3 billion baht with the recognition of 2.5 billion baht from backlog and its consistency in acquiring projects.
– AOT expected arrivals in 2020 to plunge by 53% from the coronavirus outbreak.
– Stocks in Focus on April 22, 2020: BCPG (Krungsri Securities TP at ฿19.80/share) and RS (KGI Securities TP at ฿12.00/share).
Top 10 Most Impact Shares on April 22, 2020
