Thai Stock Market Roundup on October 1, 2020

– SET Index closed at 1,247.59 points, increased 10.55 points or 0.85% with a trading value of 44.8 billion baht. The analyst stated that the Thai stock market rebounded after a two-day plummet, caused by Foreign Investors’ selloff as the country still lacked a catalyst to boost the investment and the special visa for tourists would not have an impact on the GDP in 2020.

The European stock markets also performed well in their morning sessions, following the trend in the U.S. stock market last night as well as the Dow Jones Futures that rose 200 points.

Still, the analyst saw the market to continue its down trend, while investors chose selective buy, depending on each stock individual factors.

The analyst expected tomorrow’s session to move between 1,250-1,266 points.

– Local Institutions buoyed the market with a 901 million baht of net buy, while Prop Trade, Foreign Investors and Individuals combined for a selloff.

– Tokyo Stock Exchange suspended its trading session over Technical Issue while the majority of asia stock markets closed for holiday.

– SCB established a subsidiary bank in Myanmar to carry out banking business.

– NRF set its IPO at ฿4.60/share, expecting to trade in SET Index on October 9, 2020.

– Goldman Sachs let go of its 400 employees due to the impact from the coronavirus outbreak.

– AOT is expected to delay its Don Mueang Phase 3 by two years as the company needed to file for a renewed EIA.

– Maybank upgraded IRPC to “BUY” and recommended for a midterm investment with a target price at ฿2.80/share.

– KTBST expected STGT’s 3Q profit to jump 2,150%, recommending “BUY” at ฿116.00/share.

– SET delisted BAT-3K and accepted 3K-BAT.

– Stocks in Focus on October 1, 2020: NER (Country Group Securities TP at ฿4.40/share) and SVI (Kasikorn Securities TP at ฿4.20/share).

 

Top 10 Most Impact Shares on October 1, 2020