Thai Stock Market Roundup on October 15, 2020

– SET Index closed at 1,242.96 points, decreased 21.03 points or 1.66% with a trading value of 54.2 billion baht. The analyst stated that the Thai stock market plunged heavily in the afternoon session, pressured by political issues as protesters continued to gather, despite the emergency decree.

Meanwhile, the European stocks also traded lower by 2-3% after U.K. announced another coronavirus lockdown.

The analyst stated that the Thai stock market could fluctuate in tomorrow’s session due to concerns of prolonged protest, giving a support level at 1,230 points and a resistance level at 1,250-1,260 points.

– Local Institutions and Foreign Investors took a step back from investment and withdrew 3.85 billion baht in a market selloff.

– U.K. will go back to coronavirus lockdown on Friday.

– Thailand declared an emergency decree in the morning of October 15 to control protesters and banned large gatherings, still, protesters continued to gather at the designated place later in the day.

– Standard Chartered Bank expected Thai economy to shrink 8% as the recovery lacked confidence.

– TISCO recorded a profit of ฿1.6Bn in 3Q as Covid-19 situation eased.

– MCS signed two new contracts and signalled for more projects to come in 2022-2023.

– COM7 expected a 22% growth in 3Q profit as the analyst recommended “Speculative Buy” at a target price of ฿45.50/share.

– PTTEP appointed “Veerathai Santiprabhob” as director, effective from October 15 onwards.

– BIZ signed ฿399Mb contract with government hospitals for linear accelerator.

– China’s pork prices rose 25% in September as analysts recommended “BUY” on CPF with a target price as high as ฿43.00/share.

– Stocks in Focus on October 15, 2020: CPF (Asia Wealth Securities TP at ฿43.00/share) and SAT (Kasikorn Securities TP at ฿14.50/share).

 

Top 10 Most Impact Shares on October 15, 2020