Thai Stock Market Roundup on September 8, 2020

A short summary to inform investors of what had happened in the Thai stock market on September 8, 2020.

SET Index closed at 1,293.80 points, decreased 18.15 points or 1.38% with a trading value of 45.3 billion baht. The analyst stated that the Thai stock market dropped below the 1,300 support level in its first trading day after a long holiday when global markets faced a huge selloff. Stocks in the energy and petrochem sector traded lower in today’s session, while CPF plunged 6.30% in response to the report of lower swine prices.

The tension between the U.S. and China also increased, while domestic factors lacked positive sentiment to drive the market as the position of the Finance Minister is still vacant. The political issues over the amendment of Thai constitutional law also reflected a negative sentiment that pressured the stock market.

The analyst estimated the support level for tomorrow’s session at 1,290 points and the resistance level at 1,305-1,310 points.

– Local Institutions poured 2,182 million baht to plunge SET Index by 18 points after the long weekend.

Japan’s 2Q GDP posted a sharpest contraction since the post-war period as concerns over its new leader rose.

SET expected to lift short-selling and ceiling & floor limitations at the end of September.

– 7 Thai commercial banks to combine a total of 130 billion baht of profit in 2020 with a combined dividend payment of ฿19.76/share.

BANPU expected the EBITDA of “Banpu Next” to reach 20% in 2025, while the power-generation portfolio is estimated to expand.

SCM closed its first trading day at ฿2.46/share, increased ฿0.56/share or 29.47% with a trading value of 1,312 million baht.

7UP purchased an additional 40% stake of GS from BKD, topping its shareholding to 81%.

RS’ media business to rebound in 3Q over high season as the analyst recommended “Buy” with a target price at ฿25.00/share.

INSET expected its 2020 revenue to grow 15% with a backlog worth 3,000 million baht as the company proceeded in the bidding for new projects.

ICHI jumped 2.7% to hit a new high in three years as the analyst gave a “Buy” recommendation with a target price of ฿20.00/share.

FPT unveiled Thailand’s first Omnichannel Distribution Center for Central Retail.

– Stocks in Focus on September 8, 2020: PTT (KGI Securities TP at ฿42.00/share) and MAJOR (Finansia Syrus Securities TP at ฿19.00/share).

 

Top 10 Most Impact Shares on September 8, 2020

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