– SET closed at 1,114.91 points, plunged 134.98 points or 10.80% with a trading value of 101 billion baht. The analyst stated that the decline in Thai stock market was unexpected and also worse than other regional markets, which dropped around 3-9% while European markets plunged around 5% and Dow Jones Futures tanked 6%.
The plummet was due to concerns over the escalation of cases in Thailand that could cause the country to enter Phase 3 infection which would cause a major halt to the economy. Moreover, the new 11 cases were all traveled to tourist attractions, more cases might be found.
The analyst said that the market could continue its plummet in tomorrow’s session, giving a support level at 950 points and a resistance level at 1,150 points.
– Local Institutions, Proprietary Trading and Foreign Investors combined a 10.6 billion baht of net sell, plunging SET by 10.80% amid volatility in the market caused by the outbreak of coronavirus.
– In today’s session, SET Index plunged to 1,124.84 points, declined 10%, triggered the Circuit Breaker System, which was implemented to curb excessive volatility in the market.
– Trump banned all travel to Europe, liquidated $200bn and defer tax payments.
– Italy shut down all commercial shops to control an escalated virus outbreak.
– The NBA suspended its entire season after a player tested positive for Covid-19.
– UTCC reported February’s Consumer Confidence Index which recorded the lowest in 21 years.
– GULF said no impact from the cabinet’s stimulus package while the company would be benefiting from the lower crude oil prices.
– GPSC insisted that the new electricity bill measure will have no significant effect on the company.
– Stocks in Focus on March 12, 2020: INTUCH (Kasikorn Securities TP at ฿76.09/share) and GPSC (Krungsri Securities TP at ฿68.00/share).
Top 10 Most Impact Shares on March 12, 2020