Thai stock market sank as deep as 46.73 points or 2.71% to close the morning session at 1,675.09 points with 46.6 billion baht in value. The panic came after the U.S. stock market plunged yesterday (October 11, 2018).
Top 10 most impact shares
The only share in SET100 to close the morning session with a gain is GFPT Public Company Limited (GFPT). The share closed at ฿14.80/share, up ฿0.10/share or 0.68% with 54 million baht in value.
Kasikorn Securities states that GFPT has a solid support from the constant recovery of chicken price in domestic after sinking to its lowest. Meanwhile, the Chinese government had approved an import chicken from Thailand, profiting GFPT’s business in 1H18 to be able to export chicken to China the most in 14 years.
The trend of export chicken will maintain its hike in the medium term, and the profit in 2019 has been estimated at 56% YOY or 1.7 billion baht. Thus, Kasikorn Securities recommends to “buy” at ฿16.50/share