Thai Stock Market Roundup on November 4, 2020

– SET Index closed at 1,222.44 points, increased 1.11 points or 0.09% with a trading value of 49.8 billion baht. The analyst stated that the Thai stock market fluctuated when the results of the U.S. presidential election remained unclear, causing a profit taking from investors.

Meanwhile, there are no domestic factors to buoy the market with only buying pressure on TU and DCC due to their outstanding performance in 3Q20 earnings.

The analyst advised investors to keep an eye on the result of the U.S. election as both candidates were expected to give stimulus bills a push unlike the dispute before the election. However, the market could turn negative if the results are unclear or Trump takes his petition to the Supreme Court.

In addition, the analyst expected a support level for tomorrow’s session at 1,215 points and a resistance level at 1,231 points.

– Individuals led the buying team with 1.3 billion baht to lift SET higher by 1 point during the ballot counting for the U.S. election.

– Biden led Trump 238-213. The remaining unannounced results are Wisconsin (10), Michigan (16), Pennsylvania (20), North Carolina (15), Georgia (16) and Alaska (3) and Nevada (6).

– Tech stocks in the U.S. responded positively as Trump ran neck-and-neck with Biden. Nasdaq Futures rose as much as 4.4% ahead of the trading day on Wednesday.

– Shanghai stock market stated that Jack Ma’s Ant Group has major issues that might cause it not to meet the listing conditions or disclosure requirements. Ant Group got suspended from the listing stock prior to its first trading day.

– Analysts expected 11% growth for CPF on acquiring China’s swine businesses, giving a “BUY” recommendation with a target price at ฿39.25/share.

– TU’s 3Q profit jumped 50% to ฿2.06Bn on strong top-line growth.

 

Top 10 Most Impact Shares on November 4, 2020