Thai Stock Market Roundup on May 26, 2020

A short summary to inform investors of what had happened in the Thai stock market on May 26, 2020.

SET Index closed at 1,336.09 points, increased 15.11 points or 1.14% with a trading value of 73.9 billion baht. The analyst stated that global stock markets were buoyed by positive sentiment of a coronavirus vaccine, produced by Novavax.

The Thai stock market had buying pressure from tourism and hotel stocks on the anticipation of phase 3 easing and stimulus plans, expected in July, to support domestic tourism.

The analyst advised to keep monitoring the lockdown easing, the development of U.S. and China tension as well as China and Hong Kong.

In addition, the analyst expected a profit taking in tomorrow’s session after a successive climb, giving a support level at 1,320 points and a resistance level at 1,350 points.

– Local Institutions and Proprietary Trading continued to buoy SET Index with a combined 6 billion baht net buy.

– WHO warned countries where COVID-19 declining of possible ‘second peak’.

Singapore expected 2020 GDP to contract 4%-7%.

– Chile’s LATAM Airlines crumbled as the group filed for U.S. Chapter 11 bankruptcy protection.

Thai Cabinet extended emergency decree to June 30, while phase 3 easing in consideration.

BAM, RBF, SFLEX, SHR and BKER to be included in FTSE All-World Index.

– LEO submitted a filing to sell 120 million shares of IPO.

– Analyst pointed to EGCO’s low D/E and solid operations, giving an “Outperform” rating with a target price at ฿370.00/share.

BIZ signed a contract for a linear accelerator with Gantry for 3D worth ฿95mn.

– Stocks in Focus on May 26, 2020: SPRC (Maybank Kim Eng TP at ฿8.00/share) and SQ (Maybank Kim Eng TP at ฿2.70/share).

 

Top 10 Most Impact Shares on May 26, 2020

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