Thai Stock Market Roundup on November 30, 2020

– SET Index closed at 1,408.31 points, decreased 29.47 points or 2.05% with a trading value of 120 billion baht. The analyst stated that the Thai stock market plunged in the same direction as regional markets prior to MSCI rebalance.

Moreover, domestic sentiment was weighed down from concerns of a resurgence of coronavirus that the carrier could be a super spreader. The analyst also suggested investors to monitor the judgement of the Constitutional Court regarding the Thai PM’s allegation of violating the law of using nursing homes beyond his availability.

The analyst stated that the market has a tendency to slightly recover in tomorrow’s session, but political issues would remain as negative factor, giving a support level at 1,405 points and a resistance level at 1,420-1,425 points.

– A selloff worth 7.35 billion baht from Local Institutions and Foreign Investors plunged SET Index by nearly 30 points.

– Fauci warned of “surge upon a surge” of U.S. COVID-19 cases in weeks ahead.

– India suspended international flights til the year end as Covid cases surged near 10 million.

– Oil dropped 1% as investors weighed on OPEC’s output-hike decision.

– Exports in October contracted at a higher rate while headline inflation was less negative as energy prices rose.

– FPO expected Thai GDP to contract lower than 7.7%, boosted by the government’s stimulus measures.

– FPT approved the acquisition of UVRM for ฿32Mn to further the investment in real estate business.

– JR closed its first trading day with a gain of 32.73% at ฿7.30/share.

– IP successfully acquires “Modern Pharma” to enhance competitiveness and profitability.

– GUNKUL completed a 50MW-solar farm deal in Vietnam worth ฿1.25Bn, expecting a COD in December.

– CKP issued ฿4,000Mn worth of debentures to prepare for investment in Laos’ hydroelectric power plant.

– IVL gained 5.79% to close at ฿32.00 as oil prices moved to a 4-week gain as the global economy recovers.

– KGI Securities revealed that the Thai banking sector is still behind its peers as the sector could increase further. The security company revised up target prices of five commercial banks; BBL, KBANK, KTB, KKP and SCB.

– Stocks in Focus on November 30, 2020: RATCH (KGI Securities TP at ฿74.00/share) and COM7 (Maybank Kim Eng TP at ฿45.50/share).

 

Top 10 Most Impact Shares on November 30, 2020