Thai Stock Market Roundup on November 9, 2020

– SET Index closed at 1,285.88 points, increased 25.80 points or 2.05% with a trading value of 77.8 billion baht. The analyst stated that the Thai stock market extended the gain along with the momentum of global markets after Joe Biden was declared a winner for the 2020 presidential election.

However, the buying pressure slowed down at the closing due to a profit taking, especially in big-cap stocks after the index rose almost 100 points in recent days.

The analyst advised investors to monitor the 3Q20 earnings announcement from listed companies and the aftermath of the U.S. election as Donald Trump expected to press legal petitions to the court.

In addition, the analyst expected support level for tomorrow’s session at 1,250 points and resistance level at 1,293 points.

– Foreign Investors and Proprietary Trading combined a 4 billion baht of net buy to push SET Index a step closer to 1,300 level.

– Joe Biden expected to tackle the coronavirus problem once he takes the office in January, while Donald Trump initiated his legal procedures over the counting.

– The Office of State Council relieved KTB from “state enterprise” status.

– FPT’s 3Q20 earnings increased 56% to 2.8 billion baht, mainly from the recognition of GOLD.

– PTT planned to increase its fossil fuel production to 8 thousand MW and expected 2-3 acquisitions to be announced by 1Q21.

– CPN’s 3Q profit dropped 12% to ฿2.48Bn due to the impact of Covid-19.

– NER reported a 3Q profit of ฿152Mn due to a rising volume of block-compound rubber.

– CPF to consider OTCC’s conditions on the Tesco acquisition in 3-year merging restriction.

– Analysts expected BAM’s 3Q profit of ฿1.76Bn after booking ฿1.8Bn of DTA, giving a target price at ฿28.00/share.

– PTTGC reported a profit of ฿908Mn in 3Q as olefins and derivatives performance recovered.

– IVL’s 3Q profit plunged 52% to ฿380Mn due to revenue contraction.

– Stocks in Focus on November 9, 2020: PTTGC (Maybank Kim Eng TP at ฿57.00/share) and AMA (Krungsri Securities  TP at ฿6.20/share).

 

Top 10 Most Impact Shares on November 9, 2020