Thai Stock Market Roundup on August 20, 2020

– SET Index closed at 1,296.79 points, decreased 11.88 points or 0.91% with a trading value of 49 billion baht. The analyst stated that the Thai stock market plunged in the same direction as regional and European markets as well as the Dow Jones Futures due to concerns over the Fed’s statement that forecasted a prolonged effect of coronavirus on the U.S. economy.

Meanwhile, the escalated political issues in Thailand also put more weight on investors after the pro-democratic leaders were arrested.

The analyst set a support level for tomorrow’s session at 1,280 points and a resistance level at 1,320 points.

– Local Institutions and Foreign Investors combined a selloff at the amount of 4.65 billion baht to plunge SET below the support level of 1,300 points.

– Apple became the first U.S. company to breach the $2 trillion market capitalization in the stock market.

– China and the U.S. to hold a trade talk in the coming days, said China’s Ministry of Commerce.

– ACE revealed 80% completion of VSPP-MSW Project in Krabi, expecting a COD in 1Q21.

– TRC established a subsidiary “Mahat” to operate Aata Analytics Services.

– SSP signed a construction contract of 48-MW wind power in Vietnam, expecting a COD in 2021.

– CPFTH rejoiced with a successful bond issuance of ฿20,000 million with a 2.5x oversubscription.

– MINT outperformed SET with a gain of 2.04% amid concerns over the newfound coronavirus cases and economic plummet.

– Analysts expected an improving outlook on BTS for the rest of FY21, giving a target price at ฿13.50/share.

– Stocks in Focus on August 20, 2020: DCC (Maybank Kim Eng TP at ฿3.00/share) and CPN (KGI Securities TP at ฿58.50/share).

 

Top 10 Most Impact Shares on August 20, 2020