Thai Stock Market Roundup March 25, 2020

– SET closed at 1,080.03 points, increased 46.19 points or 4.47% with a trading value of 75 billion baht. The analyst stated that SET Index posted a soaring session in the morning after the U.S. was reportedly near the deal of $2 trillion stimulus plans to fight impact from the coronavirus outbreak. Then, the market surged again in the afternoon session after a report of reaching the deal.

As for the virus outbreak, China seemed to be able to contain the contagion while South Korea began to report a low number of cases, giving hopes to the market that the outbreak, though severe in a short-term, would not last long.

The support level for tomorrow’s session is 1,050 points and the resistance level is 1,100 points.

– Local Institutions extended their portfolio with an additional 4.5 billion baht of net buy, supporting SET Index to close higher by 4.47%.

– Indian Prime Minister Modi imposed a country lockdown for 21 days after Covid-19 cases jumped to 519.

– WHO pointed out that the U.S. had a potential to become the 3rd global epicenter of Covid-19.

– White House and Senate reached $2tn stimulus plans.

– CKP asserted that the powerplant in Thai and Laos did not receive any impact from the virus outbreak.

– RATCH completed a 10-Year PPA with ALDI in Australia, expecting to commence the operation in 2021.

– THAI prepared to temporarily cancel flights and initiated a cost controlling program.

– ORI reported a 4.5 billion baht in sales revenue from 1Q20, expecting to reach 21 billion baht of revenue in 2020.

– MPC maintained the policy rate at 0.75% and forecasted Thai GDP to contract 5.3%.

– Stocks in Focus on March 25, 2020: BEM (Asia Wealth Securities TP at ฿12.50/share) and MCS (Maybank Kim Eng TP at ฿11.50/share)

 

Top 10 Most Impact Shares on March 25, 2020