Thai Stock Market Roundup on November 10, 2020

A short summary to inform investors of what had happened in the Thai stock market on November 10, 2020.

SET Index closed at 1,341.24 points, increased 55.36 points or 4.31% with a trading value of 166 billion baht. The analyst stated that the Thai stock market outperformed regional markets in response to the Covid-19 vaccine development by Pfizer and BioNTech that perform 90% of effectiveness on the patients. As Thailand is a country relying on tourism, the hotel and tourism stocks made a huge leap in today’s session in hopes of a recovery in the economy.

Meanwhile, the European markets moved in both positive and negative territories after an increase of 10% in recent days.

The analyst advised investors to keep a close eye on President Donald Trump’s movement as he claimed the election was fraud, as well as the MSCI rebalancing and the 3Q20 earnings announcement.

In addition, the analyst expected SET Index to continue its gain with a limited upside and would face a rebasing along the way, giving a support level for tomorrow’s session at 1,320-1,316 points and a resistance level at 1,350-1,360 points.

– Foreign Investors heavily invested in the Thai stock market with a 19 billion baht of net buy, buoying SET Index to close 55 points higher.

Pork prices in China fell 2.8% for the first time in more than a year as supply grew.

STA and STGT fell sharply by 21% due to concerns of lower demand once the Covid vaccine came into effect.

AWC posted a loss of ฿620mn in 3Q as Covid-19 halted its hospitality and retail businesses.

MACO reported a net loss of 160 million baht in 2Q20, ending September 30, 2020.

TKN’s 3Q profit jumped 29% to ฿89mn due to lower distribution costs.

– The share prices of Carnival and Royal Caribbean and other cruise operators skyrocketed as vaccine hopes spark rally.

AOT surged 18.34% following progress in Covid-19 vaccine, while the analyst recommended “Buy- Speculation”.

SCGP’s 3Q earnings dropped 9% to ฿1.3bn as revenue fell from global pandemic.

– Lower sales revenue pressures GFPT to report a drop of 9% in 3Q earnings.

ITEL reported a rise in service income, maintaining 3Q profit at ฿49mn.

AP’s 3Q profit jumped 135% after hitting an all-time high of ฿1.45bn.

– Stocks in Focus on November 10, 2020: IRPC (KGI Securities TP at ฿2.80/share) and CBG (KTB Securities TP at ฿170.00/share).

 

Top 10 Most Impact Shares on November 10, 2020

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