Thai Stock Market Roundup on December 1, 2020
A short summary to inform investors of what had happened in the Thai stock market on December 1, 2020.
– SET Index closed at 1,420.87 points, increased 12.56 points or 0.89% with a trading value of 78.4 billion baht. The analyst stated that the Thai stock market rebounded from a heavy selloff yesterday due to the MSCI rebalance. The surge in today’s session followed the hike in regional markets over vaccine development and economic recovery. Moreover, the banking sector performed well today after foreign security companies upgraded their recommendations as the economy started to recover.
In addition, the analyst suggested investors to monitor the Court judgement on the Thai PM tomorrow and the OPEC+ meeting on December 3, 2020, while seeing SET to continue rebasing in tomorrow’s session with a support level at 1,400 points and a resistance level at 1,430-1,450 points.
– Local Institutions and Foreign Investors switched to a net buy of 1.3 billion baht after a huge selloff yesterday.
– Singapore and Hong Kong pushed “Travel Bubble Program” beyond 2020 as covid cases spiked higher.
– Thailand to dominate 2020 Southeast Asia’s IPO market, raising funds nearly $4Bn.
– SET urged IFEC to submit a financial statement to avoid delisting on December 31, 2020.
– SIRI invested ฿1.5Bn to take over 9 JV companies from U to boost its real estate business.
– TFG reported a full subscription of its debenture, expecting to use the proceeding funds for business expansion.
– KGI Securities stated that Local Institutions are aiming at four non-bank stocks, namely MTC, KTC, AEONTs and SINGER in response to their strong revenue in 4Q20 and would extend into 2021 due to potential growth in loan business, coupled with lower financial costs and provisions.
– TRIS affirmed TRUE’s company rating at “BBB+” “Stable” to reflect a strong business profile.
– SCGP expected to file for a two-year ฿40Bn medium-term note through public offering, private placement, institutional and high net-worth investors.
– Stocks in Focus on December 1, 2020: VGI (KTB Securities TP at ฿9.00/share) and SPRC (Krungsri Security TP at ฿10.00/share).
Top 10 Most Impact Shares on December 1, 2020
