Thai Stock Market Roundup on August 26, 2020

– SET Index closed at 1,322.55 points, increased 6.56 points or 0.50% with a trading value of 48.2 billion baht. The analyst stated that the Thai stock market moved narrowly without any positive factors to drive the market, resulting in a lower trading volume.

The trading trend now switched to laggard stocks such as the financial sector that were underperforming the market.

The analyst advised investors to monitor the Fed’s meeting on 27-28 August to see the economic outlook. Meanwhile, the economic data of the U.S. and Eurozone will be gradually reported starting later this week.

The analyst expected the sideways trends to continue in these upcoming days, giving a support level for tomorrow’s session at 1,300 points and a resistance level at 1,330 points.

– Local Institutions joined with Foreign Investors to buoy SET Index by 6.5 points with a net buy of 1.3 billion baht.

– SAMART signed a contract for construction of Hat Yai 5 substation with PEA worth ฿267Mn.

– The Court set a hearing date for THAI’s rehabilitation petition on 14 September 2020.

– ORI issued two series of debentures not exceeding 1.3 billion baht with an interest rate of 3.30-4.40% to high net worth investors and institutions.

– JMT issued a debenture not exceeding 2.1 billion baht to high net worth investors and institutions with a rating of BBB.

– S&P Global Ratings upgraded TMB’s rating to BBB, supported by a robust capital base of 18.6%.

– STGT invested ฿700 million in a capacity expansion of glove production in Surat Thani 2-3.

– “Kerry” submitted a filing for 300 million shares of IPO, appointing Maybank and SCB as financial advisors.

– VGI hit the ceiling at ฿6.80 after “Kerry” announced its 300 million shares of IPO.

– TRUE established a new subsidiary for data analytics in Vietnam.

– Stocks in Focus on August 26, 2020: BGC (Kasikorn Securities TP at ฿14.00/share) and TU (Krungsri Securities TP at ฿17.60/share).

 

Top 10 Most Impact Shares on August 26, 2020