Three telecommunication stocks in the Stock Exchange of Thailand (SET) are expected to rally in response to higher data usage after the announcement of an emergency decree to be enforced on March 26, 2020 in order to contain the coronavirus from spreading.
Advanced Info Service Public Company Limited (ADVANC), Total Access Communication Public Company Limited (DTAC) and True Corporation Public Company Limited (TRUE) are on a rise due to higher data usage from the “Work from Home” measures that companies across the nation started to implement for their office employees to avoid going outside amid the outbreak of coronavirus.
The virus has infected 377,431 people and taken 16,527 lives worldwide. The global economy is entering a recession as the spreading of coronavirus is limiting people from work and forcing manufacturers to shut down to avoid the virus.
Due to the increase of cases in Thailand, the Thai Prime Minister Prayut Chan-o-cha had announced an emergency decree, which will grant the state agents the authority to enforce laws during the period. The decree also includes a curfew as well, though Thai PM has yet to announce whether a curfew measurement will be used or not.
If the number of infections keeps rising, a curfew or a shutdown is unavoidable. When it happens, the data usage will increase tremendously as people will digest news or work from home.
On March 24, 2020, ADVANC closed the day at ฿194.00/share, increased ฿6.00/share or 3.19% with a trading value of 3,113 million baht.
DTAC closed the day at ฿34.25/share, increased ฿1.75/share or 5.38% with a trading value of 214 million baht.
TRUE closed the day flat at ฿2.90/share with a trading value of 849 million baht.