Thai Stock Market Roundup January 29, 2020

– SET closed at 1,524.59 points, increased 11.33 points or 0.75% with a trading value of 64.2 billion baht. The analyst stated that SET Index edged higher in the same direction of Nikkei, European stocks and Dow Jones Futures despite a plummet in Hang Seng.

The analyst believed that investors are weighing on the impact of coronavirus, causing a swing in today’s session. Meanwhile, the buying pressure from AOT and GULF, along with the announcement of better-than-expected revenue from SCC buoyed the market even though stocks in the construction sector faced a selloff due to the report of the Constitutional Court accepting the petition for the ruling on the budget bill.

In addition, the analyst set a support level at 1,500 points and a resistance level at 1,550 points.

– Local Institutions and Individuals joined hands to buoy SET Index by 11 points with a net buy of 3.5 billion baht.

– NBC acquired 49% of “Around the World” for higher profit sharing and diversification.

– OSP acquired 100% of Calpis’ stake with the transaction value of ฿270 million.

– COM7, SPVI and SYNEX rejoiced as Apple reported an outstanding performance in the quarter.

– SCC reported a drop of 28% in 2019 profit to ฿32bn, hurt from the chemical business.

– ORI made a four-year plan to initiate 11 commercial projects worth 20 billion baht.

– Analysts said that the markets were underestimating the impact of coronavirus, indicating that the shutdown in China would hurt the global economy far worse than SARS in 2003.

– The Constitutional Court accepts a petition for the ruling on the budget bill.

– HANA closed its factory in China until 9 Feb. to avoid contagion from coronavirus, expecting to miss 0.3% of its production capacity.

– Stocks in Focus on January 29, 2020: OSP (Maybank Kim Eng TP at ฿50.00/share) and TOA (KTB Securities TP at ฿41.00/share).

 

Top 10 Most Impact Shares on January 29, 2020