Thai Stock Market Roundup April 24, 2020

– SET Index closed at 1,258.78 points, decreased 13.75 points or 1.08% with a trading value of 68.7 billion baht. The analyst stated that the market settled in the same direction of regional markets, European markets as well as Dow Jones Futures in response to the report of remdesivir drug did not improve patients’ condition who contracted coronavirus or reduce the pathogen’s presence in the bloodstream.

The analyst asserted that the market was quite expensive due to the continual buying pressure from Local Institutions and Local Individuals for the past few days. Thus, the analyst suggested keeping track of the announcement of financial statements next week such as SCC and PTTEP, while the direction of the Thai stock market would depend on the easing of lockdown measures, and set a support level for next week at 1,240-1,220 points and a resistance level at 1,300-1,316 points.

– Foreign Investors sell the rips for 3.1 billion baht, plunging SET Index by 13 points.

– U.S. jobless hit 26.4 million after business closure from the coronavirus outbreak.

– SCB denied the rumour of being a loaner for the bankrupted “Hin Leong” in Singapore.

– JMART settled the JV deal with Korean top financial group while expecting to issue two series of warrants in June.

– BC formed a holding company “Boutique Synergy” for future services in the real estate industry.

– THAI and Wunderman Thompson launched the “THAI Stay Home Miles Exchange” ROP Campaign.

– EA’s shareholders approved a debenture of ฿15bn to acquire 19% of “Land Prosperity”.

– Stocks in Focus on April 24, 2020: JMT (Krungsri Securities TP at ฿21.70/share) and PTG (TISCO Securities TP at ฿15.00/share).

 

Top 10 Most Impact Shares on April 24, 2020