Thai Stock Market Roundup on May 21, 2020
A short summary to inform investors of what had happened in the Thai stock market on May 21, 2020.
– SET Index closed at 1,320.69 points, decreased 1.51 points or 0.11% with a trading value of 70.2 billion baht. The analyst stated that due to its high valuation, SET Index faced a small profit-taking in today’s session, while the momentum of the trading in regional markets were also fluctuating.
However, the index still stood above 1,300 points, which was acceptable. Now, the market would need positive factors to rise further. What investors needed to keep a close eye on are the lockdown easing phase 3.
The analyst expected the SET Index to swing sideways in tomorrow’s session within 1,300-,1330 points.
– Foreign Investors sold the rips for 3.3 billion baht, plunging SET by 1.5pts.
– Panasonic to move Bangkok-based factories to Vietnam by March 2021.
– BBL completed the transaction worth ฿73.7Bn for “Permata”, holding 89% stake in the bank.
– GULF announced the acquisition of LNG shipper license for “Hin Kong Power” production.
– 7UP invested in Singapore mechanical manufacturing, expanding business opportunities overseas.
– OSP to invest in glass bottle and trading company in Myanmar for 140 million baht.
– Analyst had a positive view on STA’s rubber glove business, giving a “BUY” recommendation with a target price at ฿27.
– EA topped the investment budget to ฿12.3Bn to support the investment plan and battery factory.
– SPCG added ฿580mn to Ukujima Mega Solar Project to follow the investment plan.
– Stocks in Focus on May 21, 2020: TKN (KGI Securities TP at ฿11.50/share) and AP (Krungsri Securities TP at ฿8.50/share).
Top 10 Most Impact Shares on May 21, 2020
