Thai Stock Market Roundup on September 3, 2020

– SET Index closed at 1,311.95 points, decreased 3.93 points or 0.30% with a trading value of 50.3 billion baht. The analyst stated that the Thai stock market closed lower due to domestic factor over not being able to find a new Minister of Finance, while the new measures introduced by the government did not reflect on listed companies much.

Moreover, the crude futures turned negative, which caused a plummet in the energy sector, especially DELTA that faced a profit-taking from investors.

Thailand also has a four-day holiday, which could be the reason for a profit-taking before a long holiday.

The analyst expected internal factors to fluctuate the Thai stock market next week between 1,300-1,340 points.

– Foreign Investors continued the selloff with a 2,007 million baht net sell, plunging SET Index by 4 points.

– United Airlines to cut more than 16,000 jobs in October.

– Trump ignored WHO’s Covid-19 vaccine development as global cases hit 26 million, while the USA had more than 6 million cases.

– China’s service sector showed stable recovery after hiring picks up in August.

– ILINK signed a ฿122 million transmission line construction contract in Nan.

– MCOT reported the progression of the lawsuit against NBTC and shared the first installment with Playwork.

– “Credit Suisse” rated STGT “Outperform” with a target price at ฿142, while expecting net profit to reach ฿13.4Bn in 2021.

– Stocks in Focus on September 3, 2020: GULF (KGI Securities TP at ฿39.50/share) and TASCO (Krungsri Securities TP at ฿31.00/share).

 

Top 10 Most Impact Shares on September 3, 2020