Thai Stock Market Roundup July 24, 2019

A short summary to inform you of what had happened in Thai stock market on July 24, 2019

SET closed at 1,725.44 points, rose 0.57 points or 0.03% with a trading value of THB 52.33 billion. Today, SET Index closed higher than yesterday and swung in the same direction of the regional market. Most investors await a certainty of domestic and international issues. For the domestic market, all eyes on the Thai government policy and the financial statement report of each company. For the international market, ECB meeting will be held tomorrow, 25 July 2019.

– A net buy of THB455.03 million from Institutions, Foreign Investors, and Individuals buoyed the SET Index to close higher by 0.57 points while Proprietary Trading poured for profit-taking.

Stocks in Focus on 24 July 2019: PTTEP and MAJOR
      – The analyst stated that a profit of PTTEP will be the most highlighted stock in the sector and expected PTTEP profit to increase 3% QoQ and 258% YoY to THB 12.8 billion from an increase of products volume and sale price, a good cost controlling and baht appreciation which was an advantage for tax payment. The analyst recommended “BUY” PTTEP share with the target price of ฿150.0 /share.
      – The analyst expected major to earn THB 495 million of profit in 2Q2019, increasing 180% QoQ due to lots of box-office movies. Additionally, the analysts expected that a 2H2019 dividend of MAJOR to be ฿0.65/share (Yield 2.2%) and recommended “BUY” with the target price of ฿33.00/share.

BGRIM established B.Grimm Solar Power Rooftop for supplying and trading of equipment and materials in renewable energy.

III signed MOU to operate general cargo sales agent and logistics services with AirAsia group and invests 32% in “EAC”.

CHOW established a subsidiary in Australia and moves forward to operate solar farm business.

DOHOME offered IPO at ฿7.80/share, selling on 25-31 July 2019

Top 10 Most Impact Shares on July 24, 2019