Thai Stock Market Roundup April 30, 2020

– SET Index closed at 1,301.66 points, increased 18.98 points or 1.48% with a trading value of 79.1 billion baht. The analyst stated that SET Index closed higher, in line with the regional market movements. However, the market had already priced-in all positive factors, including the BOJ and Fed’s meeting, remdesivir drug and lockdown easing.

Today’s session was buoyed by the energy sector and banking sector. The market currently traded at PE 17x, which caused a limited upside.

The analyst advised to keep an eye on traffic once the business opened, expecting few positive factors next week as the market should embrace a profit-taking after the release of earnings.

The support level for next week’s session is 1,280-1,264 points and a support level is 1,317 points.

– A net buy of 4.9 billion baht from Local Institutions pushes SET Index to close above 1,300 points before the long holiday.

– U.S. Fed affirmed the policy rate at 0.25% until the economy gets back on track.

– Social Securities Office sold LPN shares to hold less than 5%.

– CHAYO rose 100% in one month as investors expected the company to benefit from TFRS 9.

– SEAFCO acquired 5 projects in April, totaled 210 million baht.

– PTTEP’s 1Q profit fell 30% from baht depreciation, still showing strong asset status.

– Analyst raised SCC rating to “BUY” with a target price at ฿370, expecting a strong rebound in 2Q.

– Tris Rating affirmed CK rating at “A” and “Stable” outlook as a leading contractor in Thailand.

– AAV to resume domestic flight operations from May 1 with a strict health controls.

– Stocks in Focus on April 30, 2020: KCE (Finansia Syrus Securities TP at ฿18.00/share) and SIRI (Krungsri Securities TP at ฿1.04/share).

 

Top 10 Most Impact Shares on April 30, 2020