Thai Stock Market Roundup March 25, 2020

A short summary to inform investors of what had happened in the Thai stock market on March 25, 2020.

SET closed at 1,080.03 points, increased 46.19 points or 4.47% with a trading value of 75 billion baht. The analyst stated that SET Index posted a soaring session in the morning after the U.S. was reportedly near the deal of $2 trillion stimulus plans to fight impact from the coronavirus outbreak. Then, the market surged again in the afternoon session after a report of reaching the deal.

As for the virus outbreak, China seemed to be able to contain the contagion while South Korea began to report a low number of cases, giving hopes to the market that the outbreak, though severe in a short-term, would not last long.

The support level for tomorrow’s session is 1,050 points and the resistance level is 1,100 points.

Local Institutions extended their portfolio with an additional 4.5 billion baht of net buy, supporting SET Index to close higher by 4.47%.

– Indian Prime Minister Modi imposed a country lockdown for 21 days after Covid-19 cases jumped to 519.

WHO pointed out that the U.S. had a potential to become the 3rd global epicenter of Covid-19.

– White House and Senate reached $2tn stimulus plans.

CKP asserted that the powerplant in Thai and Laos did not receive any impact from the virus outbreak.

RATCH completed a 10-Year PPA with ALDI in Australia, expecting to commence the operation in 2021.

THAI prepared to temporarily cancel flights and initiated a cost controlling program.

ORI reported a 4.5 billion baht in sales revenue from 1Q20, expecting to reach 21 billion baht of revenue in 2020.

MPC maintained the policy rate at 0.75% and forecasted Thai GDP to contract 5.3%.

– Stocks in Focus on March 25, 2020: BEM (Asia Wealth Securities TP at ฿12.50/share) and MCS (Maybank Kim Eng TP at ฿11.50/share)

 

Top 10 Most Impact Shares on March 25, 2020

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