Thai Stock Market Roundup on July 22, 2020
A short summary to inform investors of what had happened in the Thai stock market on July 22, 2020.
– SET Index closed at 1,357.04 points, decreased 19.96 points or 1.45% with a trading value of 63.8 billion baht. The analyst stated that the Thai stock closed in the same direction as global markets in response to the escalated tension between the U.S. and China after the Trump Administration ordered the Chinese Consulate in Houston without giving any further information regarding the matter.
Meanwhile, Thai was also at risk of being added in the U.S. watchlist in currency manipulation, according to UBS Group.
The analyst expected a sideways trends and sideways-down trends for tomorrow’s session with a support level at 1,340-1,330 points and a resistance level at 1,373 points.
– Foreign Investors and Proprietary Trading combine a 3.3 billion baht selloff, dragging SET Index down by 20 points.
– U.S. ordered an abrupt closure of Chinese consulate in Houston in an “unprecedented escalation”.
– Worldwide coronavirus cases surpassed 15 million, while death toll topped 610,000.
– BBL’s 2Q profit dropped 67% to ฿3.1Bn, setting ECL at ฿13.2Bn to absorb Covid-19 impact.
– BFIT reported a soaring 25-fold profit in 2Q to record at ฿512m, mainly due to interest income.
– The share prices of STA and STGT declined in response to the positive news of the coronavirus vaccine.
– “Hopewell” case came to a closure as the Supreme Court denied the petition.
– Stocks in Focus on July 22, 2020: BBL (KTB Securities TP at ฿130.00/share) and BCH (KGI Securities TP at ฿22.30/share).
Top 10 Most Impact Shares on July 22, 2020
