Thai Stock Market Roundup on June 22, 2020
A short summary to inform investors of what had happened in the Thai stock market on June 22, 2020.
– SET Index closed at 1,352.18 points, decreased 18.64 points or 1.36% with a trading value of 65.7 million baht. The analyst stated that the Thai stock market today traded slightly lower among Asian markets after the banking sector got pressured by the order of Bank of Thailand on banks to suspend interim dividend and share buyback programs.
The analyst suggested investors to keep an eye on the Monetary Policy Committee (MPC) Meeting on June 24 and the International Monetary Fund (IMF) Economic Review, which will be released on the same day.
In addition, the analyst expected the support level for tomorrow’s session to be 1,330-1,315 points and a resistance level at 1,375 points.
– Local Institutions and Foreign Investors combined a net sell of 6.8 billion baht to plunge SET by 18.6 points amid rising coronavirus cases in the U.S.
– China revealed the new security laws, posting a threat to freedom in Hong Kong and its legal system.
– South Korea’s Covid-19 control center announced that the country has entered a second wave of Pandemic with total confirmed cases at 12,400.
– Banking sector faced a huge selloff after BOT announced measures to support those affected by the coronavirus outbreak but posted a negative outlook on the banks.
– KTBST rated the banking sector “Neutral” on a high BIS ratio and no share buyback required.
– MINT’s shareholders approved a capital increase, W-7 issuance and dividend omission. The company would also issue a perpetual bond in USD through four leading banks today as well.
– Analyst saw a growth in IVL’s 2H20 earnings after oil prices rebound, giving a “BUY” recommendation with a target price at ฿38.00/share.
– EP budgeted ฿300mn to acquire two wind farms in Vietnam with a total capacity of 60MW.
– The banking sector faced a huge selloff after BOT announced measures to support those affected by the coronavirus outbreak but posted a negative outlook on the banks.
– WG jumped 24.48% to ฿180.50 after a tender offer by BJC’s subsidiary at a higher price.
– Stocks in Focus on June 22, 2020: STEC (KGI Securities TP at ฿19.20/share) and FPT (Kasikorn Securities TP at ฿16.50/share).
Top 10 Most Impact Shares on June 22, 2020
