Thai Stock Market Roundup on August 5, 2020

– SET Index closed at 1,337.35 points, increased 6.54 points or 0.49% with a trading value of 60.3 billion baht. The analyst stated that the Thai stock market moved in the same direction of global markets in response to anticipation of stimulus plans from the U.S. government.

Oil prices advanced after the U.S. shale storage reported a decline in the previous week, resulting in energy and petrochem stocks to support the market.

Meanwhile, the banking sector slightly rose after the MPC maintained the policy rate and signaled that the current rate could not be any lower. Any stimulus plans to support the economy would have to be in a different measure.

In addition, the analyst expected a support level for tomorrow’s session at 1,330 points and a resistance level at 1,350 points.

– Local Institutions and Proprietary Trading combined a 2.1 net buy to buoy SET Index by 6.5 points.

– BOT maintained the policy rate at 0.5% and warned of fragile financial stability.

– BANPU accelerated the closing of the “Barnett Shale” transaction to recognize early revenue.

– BEAUTY denied the rumor of Mr. Suwin selling a biglot transaction.

– Morgan Stanley downgraded AOT’s target price to ฿40.00/share.

– Bank of America Securities downgraded AOT’s target price to ฿44.00/share.

– EGAT gave RATCH a green light to expand power generating capacity by 30MW.

– Gold surpassed the $2,000 mark as investors continued to seek a safe haven amid the virus crisis.

– ITD signed a construction contract for Bang Ban- Bang Sai flood drainage canal worth ฿2.7Bn.

– PTT, PTTEP and PTTGC all closed higher in response to the higher crude price.

– JMART expected no effect from the lower interest rate ceiling by the Bank of Thailand.

– Stocks in Focus on August 5, 2020: CPF (Maybank Kim Eng TP at ฿39.20/share) and CKP (Finansia Syrus TP at ฿6.60/share).

 

Top 10 Most Impact Shares on August 5, 2020