Thai Stock Market Roundup on October 7, 2020
A short summary to inform investors of what had happened in the Thai stock market on October 7, 2020.
– SET Index closed at 1,263.71 points, increased 13.56 points or 1.08% with a trading value of 52.3 billion baht. The analyst stated that the Thai stock market surged in the afternoon session in anticipation of the new stimulus measures, following the initial approval on “Shop Dee Mee Kuen” (Shop and Payback), which would allow the expense from shopping for tax deduction.
Meanwhile, regional and European stock markets were in both negative and positive territory in response to the uncertainty of the U.S. stimulus package that the U.S. President Donald Trump ordered a halt in stimulus talks until after the election in November.
The analyst expected tomorrow’s session to move in a sideway and sideway up trends with a support level at 1,250 points and a resistance level at 1,270 points.
– Proprietary Trading, Local Institutions and Local Individuals buoyed SET Index with a total of 1.1 billion baht net buy.
– GULF successfully accumulated 10% of INTUCH, positioning it as the 3rd major shareholder. Meanwhile, INTUCH stated that the acquisition from GULF would not affect its management control or operations.
– AEONTS’ net profit in 2Q recovered to 966 million baht, announcing a dividend payment at ฿1.85/share.
– The Monetary Policy Committee expected Thai economy to slowly recover, while indicating that the government should introduce a stimulus plan that covers all sectors.
– MTS Gold expected gold prices to reach 30,000 in 4Q20 and hoped that the price will reach 34,000 next year.
– Court of Appeal sentenced GL to pay ฿2.1Bn to JTA over damage from engaging in conspiracy to entice JTA to invest in the Company by misrepresenting the financial position of GL.
– BCPG’s shareholders approved a capital increase of 1.3 billion shares for business expansion and debt repayment.
– Thais disagreed with the reopening for foreign tourists in fear of the 2nd wave of coronavirus.
– Stocks in Focus on October 7, 2020: PLANB (Krungsri Securities TP at ฿7.80/share) and SIS (Maybank Kim Eng TP at ฿24.00/share).
Top 10 Most Impact Shares on October 7, 2020
