Thai Stock Market Roundup on June 15, 2020

– SET Index closed at 1,341.99 points, dropped 40.57 points or 2.93% with a trading value of 83.3 billion baht. The analyst stated that the Thai stock market declined on negative sentiment over the possibility of the second wave or the coronavirus outbreak, in which some countries such as the U.S., China, South Korea, who eased their lockdown earlier, were seeing an uptick in new daily cases, mostly from places where people clustered.

The second outbreak could plunge the economy to what had been worse to even worse as the recovery from the first outbreak had just started.

Moreover, the Thai stock market had high valuation compared to other markets in the region. Thus, the correction might be heavier than peers. The analyst expected a support level for tomorrow’s session at 1,340-1,320 points and a resistance level at 1,360-1,380 points.

– Foreign Investors poured 4,013 million baht, coupled with a total of 2.79 billion baht selloff from Local institutions and Proprietary Trading to plunge SET Index by 40 points.

–  China’s industrial sector rose 4.4% in May but the economy still struggled to recover.

– SISB to reopen schools starting June 16 with safety measures to prevent the contagion of coronavirus.

– Three of MCOT’S Boards submitted resignation letters due to additional responsibilities.

– ADVANC announced a court’s decision in revoking NBTC’s order to pay ฿7.2Bn to TOT.

– PLANB acquired 41% in “GOODTHING” to expand its entertainment media business.

– TOP issued debentures to foreign investors, totaling $1bn with coupon rate at 2.5-3.75%.

– WHAUP secured Solar Rooftop Phase 2 from Asno Horie (Thailand), driving its electricity-generating capacity in terms of shareholding equity to exceed 597 MW.

– Operations closure during Covid-19 caused INGRS to book a net loss of ฿64mn in 1Q20.

– RP to expand its sea route overseas, expecting to settle the deal for one country within this year.

– THL sold its shares in the solar farm business to book almost 300 million baht for supporting its liquidity and future investments.

– JKN topped its budget for purchasing contents up to 1 billion baht, targeting the Latin American audiences for its next business expansion.

– Stocks in Focus on June 15, 2020: AMA (KGI Securities TP at ฿6.30/share) and PTG (Finansia Syrus Securities TP at ฿18.00/share).

 

Top 10 Most Impact Shares on June 15, 2020