Thai Stock Market Roundup July 30, 2019

A short summary to inform you of what had happened in Thai stock market on July 30, 2019

SET closed at 1,706.49 points, fell 11.48 points or 0.67% with a trading value of THB 55.57 billion. SET Index closed in negative territory. Investors have sold some of the Thai shares, leading by SCC after presenting a decline of 2Q19 financial statement. Moreover, investors also worried about the petrochemical and refinery sectors to present a negative result of the financial statement. The analyst recommends keeping an eye on Fed meeting whether there will be a rate cut as expected or not and launching of the U.S. quantitative easing.

Institutions and Proprietary Trading combined to net sold of THB 3345.30 million while Foreign Investors and Individuals net bought in a total of THB 3345.29 million.

Stocks in Focus on 30 July 2019: SEAFCO and LIT
      – The analyst stated that the recent backlog of SEAFCO has increased from THB 2,100 million to THB 4,000 million and expected to acquire new projects which earn approximately THB750 million/quarter. Being a subcontractor of concrete piles and wall plates has made the opportunity for SEAFCO to acquire more projects, including high-speed rail project connected between the 3 airports and Rama III-Dao Khanong expressway which estimated earnings of THB 12,000 million and THB1,200 million, respectively. Therefore, the analyst recommended “BUY” SEAFCO share with a 2019 target price of ฿11.50/share.
      – The analysts recommended “BUY” LIT share with the target price of ฿6.20/share. LIT has certainly benefited from government forming because LIT’s customer has been involved with the government sector, the government’s budget and a low-interest rate in the market. A 1Q2019 profit was 21% which the analyst expected a whole year profit of LIT to grow 5% to THB 156 million. In 2Q2019, the analyst has expected the credit to recover and increase higher in the 2H2019.

IVL acquired 100% share of “Sinterama” for market penetration.

HMPRO reported 16% growth of net profit in 2Q from higher sales revenue, reaching ฿1.52b billion.

AQUA took over “S. Thana Media” with an investment of ฿380 million to boost OOH business.

TKN closed the day at ฿11.00/share, dropped ฿0.70 or 5.98%. During the session, the highest of TKN’s share price was ฿12.00/share and the lowest was ฿10.80/share with a trading value of ฿693 million. The analyst estimated a decline in 2Q2019 profit as Chinese tourists decreased.

GULF topped the stake in “TTCIZ-01” to 90%, expecting to support electricity demand in Vietnam.

ITEL cooperated with ICN to acquire “Fiber Optic Cable Project” from PEA worth ฿213 million.

Trade War pressured Thai manufacturing output to sink 5.5% in June, the most in 5 years.

SCC closed the day at ฿434.0/share, dropped ฿6.00 or 1.36%. During the session, the highest of SCC’s share price was ฿440.0/share and the lowest was ฿430.0/share with a trading value of ฿2,187 million. SCC’s share price gradually dropped after a decrease of 2Q19 profit, analyst Recommended “Underperform” with the target price of ฿420/share.

Top 10 Most Impact Shares on July 30, 2019