Thai Stock Market Roundup on September 1, 2020

– SET Index closed at 1,305.57 points, decreased 5.09 points or 0.39% with a trading value of 48.6 billion baht. The analyst stated that the Thai stock market react negatively over the report of an abrupt resignation of Mr. Preedee Daochai from the Ministry of Finance. The move reflected internal conflicts that caused concerns to institutional and foreign investors as the country required stimulus plans from the government.

The analyst expected tomorrow’s session to continue fluctuating, giving a support level at 1,300-1,290 points and a resistance level at 1,320 points.

– Foreign Investors continued to pour Thai stocks, combining with Local Institutions for a total of 2.8 billion baht selloff to plunge SET by 5 points.

– China’s August production sector expanded at a solid pace, showing signs of further recovery.

– “Preedee Daochai” abruptly resigned from MoF over health concerns.

– NOK announced an improvement in 2Q earnings, limiting a net loss to ฿139M.

– TU stepped up to become “Red Lobster”’s largest shareholder, expecting a significant growth in the future.

– “Ruangkrai” requested the Auditor General of Thailand to probe AOT’s remedial measures for King Power, claiming that the move caused damage to the state.

– WICE expected its revenue in 2020 to reach a new high at 2.7 billion baht.

– CENTEL completed the “Brown Cafe” deals, expecting the acquisition to boost food portfolios.

– SCGP to enter SET50 upon arrival, expecting to drive SCC to a TP of ฿402.00/share.

– Stocks in Focus on September 1, 2020: CK (Maybank Kim Eng TP at ฿24.00/share) and TACC (KGI Securities TP at ฿8.00/share).

 

Top 10 Most Impact Shares on September 1, 2020