Thai Stock Market Roundup on October 2, 2020

SET Index closed at 1,237.54 points, decreased 10.05 points or 0.81% with a reading value of 54.2 billion baht. The analyst stated that global stock markets edged lower after the report of the U.S. President Dinald Trump tested positive for coronavirus, raising speculation of a postponement in the U.S. election.
Meanwhile, the Democrat’s stimulus bill worth $2.2 trillion still required approval from the Senate, ruled by Republicans, to become active laws.
The analyst expected a volatility in the Thai stock market next week, giving a support level at 1,200-1,220 points and a resistance level at 1,260-1,280 points.
– Local Institutions pulled back with a 1,621 million baht selloff, dragging SET Index by 10 points.
– The U.S. President Donald Trump and the First Lady tested positive for coronavirus.
– BANPU completed the final transaction of “Barnett”, expecting to boost gas production volume in the U.S.
– Analyst expected CBG’s 3Q profit to hit record high, giving “BUY” recommendation with a target price of ฿170.00/share.
– Stocks in Focus on October 2, 2020: AMA (Krungsri Securities TP at ฿6.20/share) and SINGER (KGI Securities FV at ฿17.00/share).
BDI reached a new high in two months, boosting positive sentiment for sea transportation businesses.

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