Thai Stock Market Roundup on November 19, 2020

– SET Index closed at 1,369.42 points, increased 4.83 points or 0.35% with a trading value of 82.3 billion baht. The analyst stated that the Thai stock market went in the opposite direction as the majority stock markets in the region as well as the European markets and Dow Jones Futures.

SET Index priced in domestic-positive sentiment after the 3Q GDP came in better-than-expected, coupled with S&P Ratings maintained “stable” outlook on Thailand with a BBB+ rating. Moreover, the overall earnings of 3Q listed companies were 24% higher than 2Q, showing a recovery sign from early plummet.

– Local Institutions and Proprietary Trading combined a 1.7 billion baht of net buy to buoy SET Index further by nearly 5 points.

– Trump injected $3Mn for Wisconsin Recount, Claiming Illegal Activity without Evidence

– PTT Board of Directors approved to acquire a 50% stake on GRP from GPSC to support PTT Groups strategic target of 8GW of renewable energy by 2030. The transaction, with a value of approximately Bt693mn, is expected to be completed by 1Q21.

PTT also formed “Innobic (Asia)” to support the future investment under the new s-curve strategy.

– CHAYO issued a debenture not exceeding 800 million baht with two-year maturity and an interest of 6%.

– KGI ranked GULF as “Super Growth Stock” in the next 10 years, seeing plenty of opportunities in Vietnam and recommended “BUY” at a target price of ฿39.00/share.

– BANPU announced a COD of 20MW “Yamagata Solar PP” in Japan with a 20-year power purchase agreement.

– KSS upgraded FY21F earnings to Bt793m as additional OEM sales will lift utilization. Meanwhile, vitamin drinks and small-bottle green tea is selling well, while the JV in Indonesia remains profitable. Moreover, ICHI is also actively controlling costs. KSS expected FY20F net profit to hit a four-year high of Bt549m.

 

Top 10 Most Impact Shares on November 19, 2020