Thai Stock Market Roundup on June 1, 2020

– SET Index closed at 1,352.37 points, increased 9.52 points or 0.71% with a trading value of 65.1 billion baht. The analyst stated that the SET Index continued to rise, in line with regional markets, after China announced a better-than-expected PMI for May, indicating a potential recovery in post pandemic.

However, SET Index lowered its gain in the afternoon after the report of China halting import of U.S. farm products as the country is evaluating the escalated tension between the two countries.

Thus, the analyst suggested to keep a close eye on the development of the U.S. and China tension, the unrest in the U.S. as well as the development of Thai political party.

The support level for tomorrow’s session is 1,335-1,340 points and the resistance level is 1,360 points.

– Foreign Investors and Institutions combined a net buy of 2.8 billion baht, coupled with 416 million baht from Proprietary Trading to buoy SET by 9.5 points.

– Trump to postpone G7 meeting, expecting to invite Russia, Australia, South Korea and India.

– OPEC+ to discuss extending its current output cuts for 1-3 months.

– Japan to allow Thai entrance for business trips.

– China reportedly halted import of U.S. farm products as the country is evaluating the escalated tension between the two countries.

– BOT to step in with extra measures to curb the appreciation of Thai baht.

– BA to re-operate additional four domestic flights from June 1, 2020.

– ECF issued a two-year debenture not exceeding 600 million baht for institutions and major investors.

– VL expected a 10% growth in revenue as sea-transportation businesses started to recover after the easing lockdown.

– SUPER issued a debenture not exceeding 1.5 billion baht with an interest rate of 5.5% to fund for its solar farm investment in Vietnam.

– Stocks in Focus on June 1, 2020: TCAP (KGI Securities TP at ฿57.00/share) and TKN (KTB Securities TP at ฿11.00/share).

 

Top 10 Most Impact Shares on June 1, 2020