Thai Stock Market Roundup on October 28, 2020
A short summary to inform investors of what had happened in the Thai stock market on October 28, 2020.
– SET Index closed at 1,207.94 points, dropped 1.01 points or 0.08% with a trading value of 55 billion baht. The analyst stated that the Thai stock market traded in both positive and negative territory, but the domestic sentiment improved after the Thai government showed signs of compromising in the amendment of the Thai constitution to ease the protest.
However, European stock market dropped at the open due to the rising coronavirus cases and concerns over the U.S. stimulus bills.
The analyst expected SET Index to rebase in tomorrow’s session between 1,200-1,225 points.
– Foreign Investors net sold Thai shares for a total of 3.3 billion baht, dropping SET by 1 point.
– European stocks plunged sharply as infections reached daily high and Trump rejected relief bills.
– Oil prices fell 4% amid oversupply concerns as coronavirus cases surged, while OPEC+ expected to increase output next year.
– SAWAD formed “Srisawad Digital” to operate a digital loan services to expand lending business.
– PTG invested ฿201Mn to establish 2 subsidiaries to penetrate the E-Payment business.
– BBL jumped 3%, while the analyst recommended “BUY” at a target price of ฿120 due to its strong CAR and lower provision.
– GULF rose 1.79%. The analyst recommended “BUY” at a target price of ฿45.00/share, raising it as top pick on robust 3Q profit.
– STARK plunged 21.88% after a report of ฿1.83Mn shares in the Big Lot transaction at a lower price.
– XO jumped 4% as the analyst expected 3Q profit to beat expectations.
– CPF’s minor shareholders endorse acquisition of swine business in China, making CPF one of the world’s leading swine business operators.
– SCGP reported ฿1.3Bn of profit in 3Q, expecting to expand 4 projects within 3Q21.
– Maybank expected BJC 4Q profit to reach a year’s peak, recommending “BUY” at a target price of ฿46.00/share.
– KTB and KTC jointly established “KTC Prepaid” to operate E-Payment service business.
– RATCH acquired a ฿168Mn operation and maintenance service project of Hongsa PP in Lao PDR.
– Stocks in Focus on October 27, 2020: CPN (Kasikorn Securities TP at ฿59.00/share) and SAWAD (Maybank Kim Eng TP at ฿62.00/share).
Top 10 Most Impact Shares on October 28, 2020
