Thai Stock Market Roundup on July 7, 2020
A short summary to inform investors of what had happened in the Thai stock market on July 7, 2020.
– SET Index closed at 1,373.22 points, increased 0.95 points or 0.07% with a trading value of 81.8 billion baht. The analyst stated that the Thai stock market started to decline in the afternoon after seeing European markets opened with a loss.
Even with a positive morning session, the regional markets continued to decline with only SSEC to post a gain. Meanwhile, the European markets opened lower as German industrial production data came in lower than expected and European Commission further cut European GDP from 7.4% contraction to 8.3%.
Moreover, the death toll at the U.S. stateside reached 130,000 and the confirmed cases were nearly 3 million as the Greater Miami area became its new coronavirus hotspots.
The analyst expected tomorrow’s session to trade narrowly with a support level at 1,370-1,365 points and a resistance level at 1,380 points.
– A selloff worth 1.3 billion baht from Individuals and 284 million baht from Proprietary Trading caused SET Index to close slightly higher by 1 point.
– Rising Covid-19 cases prompted Goldman Sachs to further cut U.S. GDP to negative 4.6% in 2020.
– Mexico expected the coronavirus outbreak to last til next April.
– EU forecasted its regional economy to shrink by 8.3% due to the impact of Covid-19 lockdown.
– GULF acquired German’s 465MW “offshore wind farm” as the company might be targeting expansion to the EU.
– PTT issued two series of debentures worth 15 billion baht, subscribable on 20-23 July. Meanwhile, the source close to the matter said that there is a high possibility of PTT to pay an interim dividend from its retained earnings.
– PTTGC joined hands with “Dynachem” by acquiring 41.5% of DYCT to penetrate the power plant compound business.
– TRUE issued four series of debentures worth 25 billion baht with a BBB+ rating, subscribable on 9-14 July.
– WHA successfully placed ฿4,000 million bonds with oversubscription, confirming solid investors’ confidence.
– SPCG lowered its target revenue in 2020 to 5.5 billion baht, while adjusting its expenses to combat the coronavirus effect.
– Stocks in Focus on July 7, 2020: TOP (KGI Securities TP at ฿68.00/share) and SPRC (Krungsri Securities TP at ฿8.00/share).
Top 10 Most Impact Shares on July 7, 2020
