Thai Stock Market Roundup on May 18, 2020
A short summary to inform investors of what had happened in the Thai stock market on May 18, 2020.
– SET Index closed at 1,286.53 points, increased 5.77 points or 0.45% with a trading value of 55.9 billion baht. The analyst from Finansia Syrus stated that the Thai stock market moved in the same direction as regional and European markets, while Dow Jones Futures advanced more than 300 points after Fed Chairman Jerome Powell gave a positive view on the US economy, expecting to start recovering throughout the 2H20.
Today’s session was supported by the buying pressure from the energy sector, following the higher crude prices.
The analyst expected the Monetary Policy Committee (MPC) to maintain the policy rate in the meeting this Wednesday.
The support level for tomorrow’s session is 1,280 points and the resistance level is 1,300 points. The market is expected to swing sideways.
– Local Institutions led the buying team with a 1,060 million baht net buy to buoy the market by 5.7pts.
– Fed Chairman said US GDP could collapse by 30% in 2Q, but won’t face another depression.
– Japan’s GDP fell 3.4% as Covid-19 plunged the economy into a technical recession.
– Emirates planned to cut 30,000 jobs for cost reduction amid lower demand from COVID-19.
– Thai 1Q20 GDP contracted by 1.8%, NESDC expected -6% in 2020 amid coronavirus outbreak.
– Analysts expected BOT to cut policy rate to a new low to ease Covid-19 effect on economy.
– THAI’s rehabilitation plan moved to Cabinet meeting tomorrow, while SEPO disagreed on having MOF as a guarantor.
– S reported a net profit of nearly 300 million baht, increased 11%.
– The TFRS 16 adoption affected TRUE to post a net loss of ฿161mn in 1Q20.
– MAJOR turned to book a net loss of 255 million baht in 1Q20.
– BJCHI’s 1Q20 profit hiked 30 folds to book more than 108 million baht.
– SISB’s profit continued to rise, booking 58.85 million baht in 1Q as the number of students grew 6%.
– Stocks in Focus on May 18, 2020: TCAP (KGI Securities TP at ฿57.00/share) and CBG (KGI Securities TP at ฿112.00/share).
Top 10 Most Impact Shares on May 18, 2020
