Thai Stock Market Roundup on July 13, 2020
A short summary to inform investors of what had happened in the Thai stock market on July 13, 2020.
– SET Index closed at 1,342.37 points, plunged 8.13 points or 0.60% with a trading value of 62.3 billion baht. The analyst stated that the SET Index moved in the opposite direction of global markets which received positive sentiment from the development of remdesivir drug by Gilead Sciences has progression on patients.
However, the gain in European stocks and Dow Jones Futures tighten the gap after Beijing announced a sanction on U.S. officials in retaliation of the sanction by Washington over Chinese official mistreatment of Uighur camp in Xinjiang.
SET Index plunged in the afternoon session due to concerns over the report of new domestic coronavirus cases in Thailand. The government’s Centre for COVID-19 Situation Administration (CCSA) reported of new positive tests in an Egyptian militia who resided in a hotel in Rayong and in a girl who travelled with the ambassador into Thailand and resided in a hotel in Bangkok.
The analyst saw a rebound in the Thai stock market if the virus can be contained, giving a support level at 1,340-1,335 points and a resistance level at 1,350 points.
– Local Institutions and Proprietary Trading escaped with a 1.1 billion baht selloff after new domestic coronavirus cases found in Thailand.
– Trump dismissed U.S.-China “Phase Two” deal, saying the relationship was severely damaged by the mishandling of a coronavirus outbreak by Chinese government.
– U.S. raised alarm for citizens of “arbitrary detention” in China.
– BGRIM was included in “FTSE4Good Index Series”
– STGT outperformed SET Index with a surge near 10% as concerns over the 2nd outbreak of coronavirus rose.
– INSET acquired an installation of 850 MHz frequency band filter circuit work worth ฿1.1 billion baht.
– NEX’s shareholders approved an allocation of 40% stake to EA, paving the way for “EV Bus”.
– CRD acquired a construction for a condo in Chiang Mai worth 400 million baht.
– SINGER jumped 10% as the analyst expected a 125% gain in 1H20 to beat 2019’s full-year profit.
– Analyst expected INTUCH 1H20 dividend at ฿1.10/share while forecasting ฿11.3Bn of profit at year-end.
– SKY joined hands with “King Power” and “Muang Thai Insurance” to create “AOT Airports” application.
– Stocks in Focus on July 13, 2020: ESSO (KGI Securities TP at ฿9.50/share) and DELTA (KGI Securities TP at ฿80.00/share).
Top 10 Most Impact Shares on July 13, 2020
