Thai Stock Market Roundup on May 20, 2020

– SET Index closed at 1,322.20 points, increased 12.25 points or 0.94% with a trading value of 67.6 billion baht. The analyst stated that the Thai stock market was able to close above 1,300 points, raising a technical positive sentiment to advance further. The surge came after the announcement of a policy rate cut of 0.25 percentage point by the Monetary Policy Committee, buoyed by leasing and financial stocks. Meanwhile, the buying pressure in the energy sector due to an increase in oil prices was also a main factor of the higher closing in Thai stock market.

The analyst expected the SET Index to continue its gain in tomorrow’s session with a support level at 1,315 points and a resistance level at 1,328 points.

– Local Institutions continued to lead the buying team with a net buy of 2.8 billion baht to buoy SET Index by 12pts.

– The Monetary Policy Committee cut policy rates by 0.25 percentage point to a historic low at 0.50%.

– Baht placed as top outperformer among Asian on tourism rebound bet.

– Thai industries sentiment dropped to a 11-year low, pressured by covid-19 outbreak.

– THAI hit the ceiling two days straight after the Thai Cabinet approved the rehabilitation plan.

– ECF issued debentures not exceeding 600 million baht for institutions and major investors.

– PTT aimed to issue debentures not exceeding 26 billion baht, asserting the policy to keep D/E at 1x or lower.

– Stocks in Focus on May 20, 2020: CENTEL (KGI Securities TP at ฿26.00/share) and KTC (Krungsri Securities TP at ฿45.50/share).

 

Top 10 Most Impact Shares on May 20, 2020