Thai Stock Market Roundup on October 12, 2020

A short summary to inform investors of what had happened in the Thai stock market on October 12, 2020.

SET Index closed at 1,273.43 points, increased 6.29 points or 0.50% with a trading value of 46.5 billion baht. The analyst stated that the Thai stock market moved in line with the regional and the European markets and closed 0.50% higher as investors hope for the U.S. stimulus talks to buoy the economy, impacted by the coronavirus pandemic.

As for domestic factors, the market regained confidence after Arkom Termpittayapaisith took the Ministry of Finance position and advanced in recovering Thailand’s economy. Meanwhile, the new measure by the Thai government to stimulate domestic consumers also reflected well to the market.

Due to a holiday on October 13, the analyst expected SET Index to fluctuate on October 14 due to the political gathering from the pro-democracy protestors, giving a support level at 1,260 points and a resistance level at 1,280 points.

– Local Institutions and Foreign Investors combined a total of 1.1 billion baht net buy to buoy SET by 6.3 points.

China warded off the new Covid-19 cluster in Qingdao as SSEC led the regional stock market with a 2.6% gain.

WIIK issued a dividend payment at ฿0.10/share with an ex-dividend date on October 22, 2020.

BBL topped up stakeholding in “Permata” to 98.71% after the completion of MTO.

PSTC disposed 2 biomass plants to book ฿30mn to increase liquidity.

SABINA expected high sales from the government’s “Shop Dee Mee Kuen” scheme, while the analyst recommended “BUY” with a target price at ฿24.30/share.

JMART jumped 3.7% as the analyst recommended “Accumulate-Buy” at a target price of ฿18.00 in response to the government scheme and lower P/E.

NER signalled for an outstanding 3Q20 performance as the analyst recommended a “BUY” rating with a target price of ฿5.00/share.

– KGI expected BEM’s 3Q core profit to skyrocket by 443% as traffic recovers, recommended “BUY” at ฿11.70/share.

– Stocks in Focus on October 12, 2020: SABINA (Maybank Kim Eng TP at ฿24.30/share) and RS (KGI Securities TP at ฿24.60/share).

 

Top 10 Most Impact Shares on October 12, 2020

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