Thai Stock Market Roundup on October 8, 2020
A short summary to inform investors of what had happened in the Thai stock market on October 8, 2020.
– SET Index closed at 1,274.83 points, increased 11.12 points or 0.88% with a trading value of 56 billion baht. The analyst stated that the Thai stock market closed higher, in line with the regional and European markets after the U.S. President Donald Trump said that he would resume the stimulus talks.
The Thai market was supported by the “Shop Dee Mee Kuean” (Getting Refund after Shopping) that would allow a tax reduction up to 30,000 baht. The measure gave a good stimulation to the stock market, while the analyst advised investors to continue monitoring political issues that will gather on October 14, 2020. The event could result in a downside to the stock market.
In addition, the analyst expected the market to move in a sideway trend with a support level at 1,250 points and a resistance level at 1,285 points.
– Proprietary Trading slammed 1.1 billion baht to invest in the Thai stock market, pushing SET Index to continue the 4-day streak.
– Trump returned to relief talks, saying that he is ready to sign $1,200 stimulus checks for Americans.
– AEC invested 180 million baht to acquire EV transportation and innovative production-oriented clothing business.
– TKN clarified on the trading alert by denying rumors of investors taking over the company.
– Thailand consumer confidence in September fell for the first time in five months to 50.2 points from 51.0 points in August due to political issues.
– AEONTS’s profit beat the market’s forecast, while offering a dividend payment at ฿1.85. The analyst upgraded TP to ฿180.00/share.
– NRF projected sales revenue to reach ฿3Bn in 2023, joining EU and China partners to penetrate international markets.
– SINGER jumped 8.72% to ฿16.70/share as loan portfolio expected to double the size to ฿4Bn.
– SCGP determined the final IPO price at baht 35.00, expecting 1st-day trade in October.
– Stocks in Focus on October 8, 2020: SINGER (Krungsri Securities TP at ฿17.40/share) and HMPRO (Kasikorn Securities TP at ฿17.00/share).
Top 10 Most Impact Shares on October 8, 2020
