Thai Stock Market Roundup on July 30, 2020

– SET Index closed at 1,315.74 points, decreased 22.61 points or 1.69% with a trading value of 67.1 billion baht. The analyst stated that the Thai stock market plunged ahead of the U.S. 2Q GDP announcement, while the Fed did not introduce any new measures in its meeting yesterday.

Meanwhile, the market started to decline in the afternoon session after Germany reported a contraction of 10% in its 2Q GDP, weighing down the European market and Dow Jones Futures.

As for the domestic stocks, the plummet of AOT caused an impact to SET Index by 2.6 points after giving an extension to its concessionaires. Meanwhile, the energy sector weighed SET Index down by 7 points as crude futures slipped 1% and PTTEP reported lower profit for the quarter.

The analyst forecasted a support level for tomorrow’s session at 1,306-1,310 points and a resistance level at 1,320-1,325 points.

– Local Individuals took the opportunity to buy the dips after the market plunged from a huge selloff.

– The Fed maintained interest rates at near zero.

– The Finance Ministry cut Thai 2020 GDP to 8.5% contraction over prolonged pandemic.

– MCOT wrapped up Q&A session in 2020 AGM without clarifying the ฿3.2Bn compensation matter.

– SICT jumped 200% to close at ฿4.14 on the first trading day with a trading value of 158 million baht.

– Analysts expected KPP loan portfolio to benefit from “Honda-Isuzu”, giving a target price at ฿50.00/share.

– PTTEP reported a net profit of ฿4.3Bn in 2Q, offering a dividend at ฿1.50/share.

– Stocks in Focus on July 30, 2020: CHG (KGI Securities TP at ฿3.10/share) and ITEL (Capital Nomura Securities TP at ฿3.50/share).

 

Top 10 Most Impact Shares on July 30, 2020