Thai Stock Market Roundup March 18, 2020

A short summary to inform investors of what had happened in the Thai stock market on March 18, 2020.

SET closed at 1,048.15 points, increased 12.98 points or 1.25% with a trading value of 59.1 billion baht. The analyst stated that the SET Index moved in the opposite direction of global markets from buying pressures due to low valuation after a plummet in yesterday’s session while Wall Street rose 5-6% over the night.

Moreover, the new measures for limiting the ceiling and floor as well as new measures for the circuit breaker had eased the market from worrying about a hard sell.

The analyst expected the SET Index to continue its climb, but the increase could be limited from no positive factor to buoy the market.

Local Institutions and Individuals combined a net buy of THB 4,000 million, buoying the market by 13pts.

Fitch Ratings downgraded Thailand from “Positive” to “Stable”, but maintained a rating at BBB+.

Oil on pace to 17 years low, dropped to $25 from a weak demand, COVID-19 and price war.

EU closed borders for 30 Days while Taiwan banned entry to slow down the spread of coronavirus.

BA approved a share repurchase program for 24 million shares on March 18 – August 17.

GUNKUL to enter a repurchase program for 440 million shares from April 1 – September 30.

SISB to perform e-learning under the advice of the Ministry of Education to prevent COVID-19.

MAJOR closed all cinemas nationwide in response to the government measures against Covid-19.

HMPRO closed all Branches in Malaysia following the government’s policy to prevent Covid-19.

SPA temporarily shut down 33 health massage branches to stop the Covid-19 outbreak.

SCC offered a dividend at ฿7 and postponed AGM due to the Coronavirus outbreak.

– Stocks in Focus on March 18, 2020: WHA (Asia Wealth Securities TP at ฿4.20/share) and BJC (Kingsford Securities TP at ฿46.75/share).


Top 10 Most Impact Shares on March 18, 2020

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