Thai Stock Market Roundup August 20, 2019

A short summary to inform investors of what had happened in the Thai stock market on August 20, 2019

20/08/2019

– SET closed at 1,625.57 points, fell 11.69 points or 0.71% with a trading value of THB 56.86 billion. SET Index closed lower than yesterday by 11.69 points while the regional were mixed amid the volatile session. The plummet of the SET Index was due to selling the rips from investors after the cabinet approved the fiscal stimulus plan. Analysts stated that the index was already priced-in the positive factors from the stimulus plan in the past few days. Meanwhile, shares in tourism were plunged due to the exempt of visa-free for Chinese and Indian tourists.

– Foreign Investors poured THB 2,990.50 of net sell for profit-taking while Institutions, Proprietary Trading, and Individuals combined to net buy Thai share.

– PTTGC offered a dividend at ฿1.00/share, XD on Aug. 30, after recording ฿2,202 million Profit in 2Q2019.

– PTT acquired coal mining licenses in Indonesia through ฿360 million of investment in IDN firms.

– ITEL-ICN consortium won the supply and installation of fiber optic cables project worth ฿213 million.

– Cabinet greenlights ฿316 billion stimulus plans, expecting to improve GDP to 3% in 2019.