Thai Stock Market Roundup on October 16, 2020

A short summary to inform investors of what had happened in the Thai stock market on October 16, 2020.

SET Index closed at 1,233.68 points, decreased 9.28 points or 0.75% with a trading value of 44.5 billion baht. The analyst stated that the Thai stock market was pressured by the political unrest in the country in which the development could affect the economic recovery, while the resurgence of coronavirus cases in Europe continued to weigh on global markets.

The analyst expected a support level for next week’s session at 1,200 points and a resistance level at 1,250 points.

– Local Institutions poured 2 billion baht along with another 480 million baht from Foreigin Investors to plunge SET Index by 9 points.

Oil prices slipped on Friday as the resurgence of Covid-19 cases in Europe weighed on the market sentiment and demand.

BOT advised Thai commercial banks to find a proper measure for their debtors after the temporary suspension of debt ends.

KTC’s 3Q profit fell 5.5% to ฿1.22Bn as fee income and card spending dropped, but increased 6% QoQ.

SEAFCO acquired two new projects in October, booking ฿110 million to its revenue.

TISCO jumps 3.8% in response to a better-than-expected 3Q profit at ฿1.6Bn.

– KGI stated that BAM will remain as a major potential buyer of distressed assets, despite BOT establishing AMC.

– Goldman Sachs raised PTTGC’s rating to “BUY” with a target price of ฿50.00/share.

– Stocks in Focus on October 16, 2020: TOP (KGI Securities TP at ฿52.00/share) and TISCO (KTB Securities TP at ฿80.00/share).

 

Top 10 Most Impact Shares on October 16, 2020

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