Kaohoon’s Top News on October 15, 2020

Top news from Kaohoon Turakij Newspaper to start the trading day on October 15, 2020.

– The analyst expected the Thai stock market to continue downward if the political protest continues after the protesters marched to the Government House of Thailand yesterday, pressured SET Index to close 9.44 points lower. Today, the analyst expected a support level at 1,250 points and a resistance level at 1,275 points and advised to pick defensive stocks such as ASK, DOHOME, INSET, MTC, NOBLE and STGT.

– The Thai Finance Minister signalled that the temporary debt suspension will not be extended in concerns of defaults. The Bank of Thailand stated that 60% of those requested for debt suspension started repaying their debt.

RS revealed that its business in 3Q20 would be outstandingly, buoyed by the recovery after the coronavirus outbreak and would continue at a higher level in 4Q20. The revenue in 2020 is expected to come in at 4.3 billion baht. Meanwhile, the analyst recommended “BUY” at ฿25.00/share and the net profit in 3Q20 would be at 128 million baht, an increase of 38%.

SO expected to utilize the proceeding funds from IPO to expand its business as planned to be Thailand’s leading all-rounded outsource services. The company also expected to receive projects from MINT, which would be complete by next year.

COM7 forecasted an outstanding performance in 4Q20 in response to “Shop Dee Mee Kuen” measure and the newly announced iPhone 12 that supported 5G technology. The analyst expected a 350 million baht of profit for COM7 in 3Q20, an increase of 22% YoY, and advised “Speculative Buy” with a target price at ฿45.50/share.