Buying Pressure Overwhelms AOT-MINT, Soaring over 8% after EU Unlocks Travel for Thais

Buying Pressure Overwhelms AOT-MINT, Soaring over 8% after EU Unlocks Travel for Thais

The share price of Airports of Thailand Public Company Limited (AOT) and Minor International Public Company Limited (MINT) edged higher in the morning session on August 11, 2020 after obtaining the positive sentiment from European Union lifting of travel restrictions.

 

AOT jumped ฿4.25/share or 8.67% to ฿53.25/share at the closing of the morning session, with a trading value of 3,259 million baht.

 

Meanwhile MINT’s share price at the closing of the morning session increased ฿2.00/share or 10.93% to ฿20.30/share, with a trading value of  2,488 million baht.

 

The European Union (EU) on August 7, 2020 officially announced the gradual lifting of temporary restrictions on non-essential travel into the EU borders for residents of 11 countries includes Thailand. The Council has updated the list of nations for which travel restrictions should be lifted. 

 

As of August 8, member states should gradually lift the travel restrictions at the external borders.

 

Citizens of Australia, Canada, Georgia, Japan, New Zealand, Rwanda, South Korea, Thailand, Tunisia, Uruguay and China (subject to confirmation of reciprocity) will be allowed entering into the EU as the epidemiological situation in the said countries showing stable or decreasing trend of new cases over this period in comparison to the previous 14 days.

 

This announcement has given a positive sentiment to stocks that rely on overseas tourists such as AOT, MINT and travel stocks.

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