Thai Stock Market Roundup on August 18, 2020

– SET Index closed at 1,330.11 points, increased 9.20 points or 0.70% with a trading value of 50.8 billion baht. The analyst stated that the Thai stock market closed higher after being supported by a buying pressure from the banking sector in hopes of the new stress test that could allow the bank to issue a dividend payment again.

However, there were no other positive factors to buoy the market, causing the index to move narrowly within the support and resistance level.

The analyst gave a support level for tomorrow’s session at 1,320 points and a resistance level at 1,337 points.

– Foreign Investors led the buying team with a total of 1,063 million baht net buy to buoy SET Index by 9.20 points.

– “Carrie Lam” had problems with credit cards as U.S. sanctions started to take a toll.

– Creditors objected THAI’s rehabilitation plans of appointing “EY Corporate”.

– ETC rose 77% to ฿4.60/share in the morning session, but faced a selloff to close at ฿2.72/share, up 4.62% with a trading value of 5.9 billion baht.

– BIZ signed a contract for a high energy linear accelerator with two hospitals worth ฿340Mn.

– Spot Gold surged to near $2,000 as an analyst affirmed the rally has not finished.

– TPOLY acquired the construction work of Mahidol University, expecting a backlog to hit ฿4Bn.

– SIRI acquired 100% shareholding in PKL Development Co., Ltd., totaling ฿351Mn.

– BWG hit the floor, plunging 14.67% as investors switched to ETC instead.

– Stocks in Focus on August 18, 2020: COM7 (KTBST Securities TP at ฿45.00/share) and BEM (KGI Securities TP at ฿11.70/share).

 

Top 10 Most Impact Shares on August 18, 2020