Thai Stock Market Roundup on November 23, 2020
A short summary to inform investors of what had happened in the Thai stock market on November 23, 2020.
– SET Index closed at 1,420.43 points, increased 31.09 points or 2.24% with a trading value of 105 billion baht. The analyst stated that the Thai stock market outperformed regional markets in today’s session as the fund inflow continued to drive the market amid coronavirus vaccine development, MSCI and FTSE rebalancing.
Thai exports for October came in at 6.71% contraction, which was in line with the forecast. Meanwhile, exports were expected to contract 7% for the year, improved from earlier forecasts at 8-10% contraction.
Pfizer has filed for approval for its coronavirus vaccine from the U.S. FDA, which if approved the drug could be distributed to U.S. citizens by mid-December, raising hopes for oil businesses and the banking sector for a faster-than-expected economic recovery.
The analyst expected the fund inflow to continue buoying the Thai stock market, and warned that there could be short profit-taking while the market is waiting for the vaccine, giving a support level at 1,400 points and a resistance level at 1,450 points.
– Individuals kept pouring stocks for profit-taking amid a net buy of 5.6 billion baht from Local Institutions, Proprietary Trading and Foreign Investors.
– Trump to drop the last bomb on China, banning 89 firms from acquiring U.S. goods.
– Hong Kong and Singapore “Travel Bubble” got delayed after Covid-19 cases spiked in Hong Kong.
– PTT and GPSC continued to rally after PTT took 50% stake in GPSC’s GRP, while oil prices continued to rise.
– IVL issued a series of debentures worth 9 billion baht for institutional investors and high net-worth investors.
– SINGER issued a debenture not exceeding 1 billion baht with an interest rate of 5.75% for institutional investors and high net-worth investors.
– JAS soared 15.75% as investors accumulated stocks for ฿0.20 dividend payment on December 18, 2020.
– The analyst revealed that COM7, JMART, SYNEX, SPVI and CPW are expected to be the most beneficial stocks once the four series of iPhone 12 drop this month.
– SEAFCO acquired two construction projects in November, totalling 144 million baht.
– EA officially announced the completion of CRL’s acquisition to enhance ferry services.
– ATP30 announced three new bus-service contracts and 1 extension for further revenue-boosting.
– Stocks in Focus on November 23, 2020: BEM (Asia Wealth Securities TP at ฿12.50/share) and CHG (KGI Securities TP at ฿3.05/share).
Top 10 Most Impact Shares on November 23, 2020
