Thai Stock Market Roundup on September 14, 2020
A short summary to inform investors of what had happened in the Thai stock market on September 14, 2020.
– SET Index closed at 1,272.34 points, decreased 7.62 points or 0.60% with a trading value of 40.4 billion baht. The analyst stated that the Thai stock market underperformed regional markets as political issues and the vacant position of the Thai Finance Minister weighed on the market sentiment, coupled with the delay of 2021 budget, resulting in investors confidence and sentiment.
The analyst expected the downside trend to continue in tomorrow’s session, giving a support level at 1,270-1,260 points and a resistance level at 1,285-1,290 points.
– Local Institutions poured ฿1.6Bn worth of Thai shares as the market sentiment dropped over domestic factors.
– TikTok to partner with Oracle in the U.S. after rejecting Microsoft’s bidding offer.
– TASCO dropped to the floor after the U.S. ordered a shutdown of the oil procurement to its refinery in Myanmar, while the impact could be around 50% to TASCO’s revenue. TIPCO as a major shareholder also hit the floor since the morning session.
– PRM plunged 3.39% as investors weighed on the business for being “too dependent” on PTT Group.
– INGRS reported a net loss of 89.60 million baht in 2Q20 due to the coronavirus outbreak, causing a drop in the company’s revenue.
– SET lifted an SP sign as EFORL reported a net profit of 18 million baht in 2Q20.
– The Court approved THAI’s rehabilitation plans and appointed “EY” and six other executives as planners. The company opened a 1-month window to file an application for debt repayment.
– The share price of THAI jumped 7.10% in the after the court gave a green light for its rehabilitation plans.
– Creditors appointed “Kudun & Partners” to handle ฿46bn-debenture debt in THAI’s REHABCO.
– PTG expected a sales revenue in 2020 to reach the target with 15% expansion as the company continued to advance in non-oil business.
– Stocks in Focus on September 14, 2020: CPF (Krungsri Securities TP at ฿42.20/share) and KTC (Maybank Kim Eng TP at ฿37.00/share).
Top 10 Most Impact Shares on September 14, 2020
