Thai Stock Market Roundup on September 10, 2020

A short summary to inform investors of what had happened in the Thai stock market on September 10, 2020.

SET Index closed at 1,290.89 points, decreased 2.51 points or 0.19% with a trading value of 42.1 billion baht. The analyst stated that the Thai stock market moved with in sideways trends, but could not surpass the 1,300 resistance level as investors monitored the ECB meeting and the possibility of the second wave of Covid-19. Meanwhile, political issues were the main factors that dragged the market down.

The analyst advised investors to keep track of Covid-19 vaccine and the U.S. jobless claims, giving a support level for tomorrow’s session at 1,285-1,280 points and a resistance level at 1,300 points.

– Local Institutions and Proprietary Trading combined a 967 million baht selloff to plunge SET Index by 2.5 points, while Foreign Investors recorded only 2.6 million baht of net buy.

– The U.S. suspended 1,000 visas for Chinese nationals to prevent security risk.

– The Bank of Thailand stated that house loans in 2Q20 expanded 4.4%.

TPLAS expected to reach 1 billion baht of revenue within five years as the company advanced its production line for paper boxes in response to higher demand.

SUPER expected its revenue in 2020 to reach a new high along with its production capacity to reach 1,200MW.

Finansia Syrus Securities advised picking up small-mid cap stocks, seeing potential upsides amid Covid-19 outbreak.

WEH’s shareholders ousted “Nop Narongdej” and appointed “Pradej Kitti-itsaranon” as director.

– Analyst expected an improvement in MINT’s business to book ฿1.8Bn of net profit in 2021, raising its target price to ฿28.00/share.

– Stocks in Focus on September 10, 2020: CENTEL (Krungsri Securities TP at ฿28.00/share) and PRM (Tisco Securities TP at ฿11.50/share).

 

Top 10 Most Impact Shares on September 10, 2020

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