Thai Stock Market Roundup on July 16, 2020

– SET Index closed at 1,347.86 points, decreased 6.45 points or 0.48% with a trading value of 47.8 billion baht. The analyst stated that Thai stock market dropped lower on Thursday, but still slightly better than the regional market due the easing of coronavirus cases that prompt worries on investors a few days ago.

However, the rising coronavirus cases in the U.S. and the increased tension between the U.S. and China still weigh on investors sentiment.

The analyst suggested investors to wait and see the earnings of listed companies in 2Q20, which would be released in succession.

In addition, the analyst expected a stable session for tomorrow with a support level at 1,340 points and a resistance level at 1,355 points.

– Foreign Investors pulled 1.9 billion baht from the Thai stock market, crashing the market by 6.45 points.

– China’s GDP rose 3.2% in 2Q20, recovering from a record contraction as lockdowns ended.

– The Energy Regulatory Commission lowered the FT by THB 0.83, resulting in a lower electricity bill of ฿3.63/unit.

– MINT’s legal claim against “Marriott International” proceeded in the Thai court for ฿570m compensation.

– More speculation on STGT after the U.S. halted orders of the world’s no.1 gloves producer due to a claim of forced labour.

– AP reported of THB 56 billion worth of backlog with 26 new projects to be launched by this year.

– THAI affirmed the appropriateness and transparency of hiring advisors for the rehabilitation plans.

– Stocks in Focus on July 16, 2020: SCCC (Maybank Kim Eng TP at ฿180.00/share) and PRM (KTB Securities TP at ฿10.60/share).

 

Top 10 Most Impact Shares on July 16, 2020