Thai Stock Market Roundup on August 17, 2020
A short summary to inform investors of what had happened in the Thai stock market on August 17, 2020.
– SET Index closed at 1,320.91 points, decreased 6.14 points or 0.46% with a trading value of 47.8 billion baht. The analyst stated that the Thai stock market faced a profit-taking session after the end of 2Q earnings session, in which the overall earnings were down 45% YoY, but up 23% QoQ due to the impact of the coronavirus outbreak that could stretch to the third quarter as well, coupled with the recent announcement of Thai GDP that contracted 12.2% YoY.
The analyst reiterated that the Thai stock market is rebasing and without a positive and a rise from foreign stock markets. Tomorrow’s support level is 1,310 points and a resistance level is 1,330 points.
– Local Institutions poured 2.1 billion baht, dropping SET Index by 6 points.
– Thai GDP fell 12.2% in 2Q20.
– The pandemic outbreak shocked CRC in 2Q20 by reporting a net loss for the quarter.
– TRITN turned to book ฿22M of profit in 1H as specialized engineering business outperforms.
– JKN’s 2Q profit jumped 22% to ฿85M, stepping up to trade in SET.
– The virus outbreak halted BA’s operations in 2Q, reporting a net loss of ฿2.97Bn.
– “Wichai Wachiraphong” affirmed of not selling STGT, hinting on high global demand. Meanwhile, an analyst gave a “BUY” recommendation with a target price at ฿106/share.
– Stocks in Focus on August 17, 2020: OSP (KGI Securities TP at ฿49.00/share) and EGCO (KGI Securities TP at ฿370.00/share).
Top 10 Most Impact Shares on August 17, 2020
