Thai Stock Market Roundup on July 10, 2020

– SET Index closed at 1,350.50 points, decreased 15.31 points or 1.12% with a trading value of 64.1 billion baht. The analyst stated that the Thai stock market edged lower in the same direction as the regional markets. The analyst believed that investors were waiting to see the development next week, while some might profit-taking.

Next week the banking sector was expected to release their 2Q20 earnings, while the Chinese GDP and U.S. retail data were also expected. Moreover, ECB and BOJ would also hold their meeting next week as well.

The analyst warned that if the index dipped below 1,350 points, it could trigger a landslide selloff. As for next week’s session, the analyst expected a support level at 1,330-1,300 points and a resistance level at 1,380-1,390 points.

– Local Institutions, Proprietary Trading and Foreign Investors combined a total of 4.3 billion baht selloff amid rising concerns over coronavirus resurgence.

– U.S. initiated the sanction of Chinese high-ranking officials over the violation of Uighur rights.

– ACE invested THB 851 million to acquire three biomass power plants with a total capacity of 26.9MW.

– STGT, RBF, NEX, NEX-W2, BWG, TRUBB and JMART-W4 to be included in “Cash Balance” measures starting July 13, 2020.

– WP completed the share repurchase program, acquiring 10.37 million shares.

– CHAYO issued a debenture not exceeding 300 million baht with a 6% coupon rate for business operation and expansion.

– CPFTH issued 5-series debentures with A+ rating for institutions and major investors.

– Analyst expected an Improvement of KTC asset quality in 2H20, recommended “BUY” with a target price of ฿37.00/share.

– Stocks in Focus on July 10, 2020: SPALI (Kasikorn Securities TP at ฿17.50/share) and SCC (Maybank Kim Eng TP at ฿400/share).

 

Top 10 Most Impact Shares on July 10, 2020