Thai Stock Market Roundup on June 19, 2020
A short summary to inform investors of what had happened in the Thai stock market on June 19, 2020.
– SET Index closed at 1,370.82 points, decreased 2.16 points or 0.16% with a trading value of 63.3 billion baht. The analyst stated that the Thai stock market swung sideways without any positive factor to buoy the market and dropped lower right before closing, while regional markets closed higher.
The weight down from FTSE All World also reflected negative sentiment to the Thai stock market as foreign investors would pull back on investing in the Thai market, especially the big-cap stocks, which was also the main reason for today’s plummet.
The analyst suggested investors to keep an eye on the Bank of Thailand’s stimulus plan and the Monetary Policy meeting on June 24. Next week’s support level is 1,350-1,330 points and the resistance level is 1,390-1,404 points.
– SET Index slipped and closed lower by 2 points after Foreign Investors committed a 4,036 million baht selloff.
– In the trade deal negotiation in Hawaii, China promised to step up purchases of U.S. Goods to meet the condition indicated in the Phase 1 deal.
– Oil prices climbed 1% as OPEC+ planned to meet an output cut.
– Goldman forecasted gold price to reach $2,000 amid currency debasement and economic uncertainties during the coronavirus outbreak.
– Nissan to stop night shifts at Japan production sites due to a decrease in demand.
– EECO and BBS inked the ฿290m deal to develop “Eastern Airport City Project”.
– FPT appointed “Thanapol Sirithanachai” as Country CEO to lead the new integrated platform.
– BDI reached 280 points, sending positive factors to stocks related to sea transportation.
– SINGER jumped 12%, making a new high in two years, as sales unexpectedly rose amid pandemic. Meanwhile, the analyst gave a “BUY” recommendation with a target price at ฿14.00/share.
– STEC expected 20-30 billion baht of revenue from the U-Tapao project.
– Stocks in Focus on June 19, 2020: MTC (KGI Securities TP at ฿61.00/share) and GPSC (Krungsri Securities TP at ฿80.00/share).
Top 10 Most Impact Shares on June 19, 2020
