Thai Stock Market Roundup on July 2, 2020

– SET Index closed at 1,374.13 points, increased 24.69 points or 1.83% with a trading value of 84.4 billion baht. The analyst stated that the Thai stock market closed inline with regional markets in positive territory after the economic data for China and the U.S. came out better than the market had anticipated, giving hopes for fund inflow to emerging markets.

The analyst expected the Thai stock market to continue increasing along the trend, but with limited upside, giving a support level at 1,355-1,360 points and a resistance level at 1,380-1,386 points.

– Local Institutions led the buying team with a 6.8 billion baht of net buy, sending SET Index to close higher by 24.7 points.

– Oil prices edged higher as the U.S. stockpile shrank and OPEC’s production cut met the target.

– U.S. House passed bill to sanction banks doing business with Chinese officials.

– Thailand could lose up to $47bn after Covid-19 placed tourism at a standstill, stated the UN Trade and Development.

– Thai Consumer Confidence in June gradually improved after the government lifted several lockdowns.

– GULF acquired a 100MW wind farm project in Vietnam, expecting a COD in 4Q22.

– STGT closed its first trading day at 60.50/share, increased 26.50/share or 77.94% with a trading value of 17.2 billion baht. Analysts expected bright earnings for STGT with a 69% 3-year CAGR as gloves sales soar.

– ALL to offer a free warrant instead of a dividend at a ratio of 4:1.

– THAI appointed “Chansin Treenuchagron” as an Acting President, Effective July 2.

– PTT reported an overbooked of 65 billion baht on its debentures.

– PLE entered into the construction contract for block 33 Suanluang-Samyan worth ฿2.9bn.

– Stocks in Focus on July 2, 2020: ADVANC (KTB Securities TP at ฿225.00/share) and GLOBAL (KGI Securities TP at ฿19.00/share).

 

Top 10 Most Impact Shares on July 2, 2020