Thai Stock Market Roundup on November 5, 2020
A short summary to inform investors of what had happened in the Thai stock market on November 5, 2020.
– SET Index closed at 1,264.32 points, increased 41.88 points or 3.43% with a trading value of 80.9 billion baht. The analyst stated that the Thai stock market moved in the same direction of global markets in response to Joe Biden’s possibility to win the U.S. presidential race against the incumbent Donald Trump, resulting in a buying pressure in the setor that would benefit from Biden’s policy.
Moreover, the analyst expected institutional investors would make a short covering, while switching plays to big-cap stocks. The banking sector would remain quiet for a while since no matter what happened, the outlook would still likely dim.
The analyst SET Index to continue the hike in tomorrow’s session with a movement between 1,250-1,280 points.
– A ฿6.1Bn net buy from Local Institutions skyrocketed SET Index by 41.88 points in hopes of Biden’s win to ease tension Trump had created.
– BH’s 3Q20 profit plunged 79% to 221.52 million baht as the revenue plummeted in the quarter.
– TASCO jumped 11.33% in response to the possibility of Biden’s win, which could ease tension in Venezuela.
– LPN’s 3Q profit dropped 11% to ฿102Mn, expecting to book ฿2.9Bn from the backlog in 4Q.
– KTBST expected strong growth for TU, raising its target price to ฿20 despite Covid-19 outbreak.
– Stocks in Focus on November 5, 2020: DCC (Maybank Kim Eng TP at ฿3.18/share) and PTT (KGI Securities TP at ฿42.00/share).
Top 10 Most Impact Shares on November 5, 2020
