Thai Stock Market Roundup on June 2, 2020

A short summary to inform investors of what had happened in the Thai stock market on June 2 2020.

SET Index closed at 1,374.18 points, increased 21.81 points or 1.61% with a trading value of 70.9 billion baht. The analyst stated that the Thai stock market edged higher in the same direction with regional markets and Dow Jones Futures as many countries around the globe started to ease their lockdown.

Investors were also hoping for OPEC and its allies to further their output cut after the oil price continued to rise, sending positive momentum to the market along with the easing lockdown.

However, the analyst still advised to keep monitoring the unrest in the U.S. and the dispute with China after Beijing reportedly halted U.S. agricultural import products.

The analyst expected the market on Thursday, June 4, 2020, to swing sideways and sideways up with positive momentum. The support level is 1,360 points and the resistance level is 1,390 points.

– Foreign Investors led the buying team with 2,089 million baht of net buy to buoy the Thai stock market by nearly 22 points.

U.S. protest started to get out of hand after four police were shot, while Trump aimed to use the U.S. military.

– Kasikorn expected Thai GDP for 2020 to contract 6% after Covid-19 hit the economy.

– Thai Cabinet approved “BBS Consortium” to invest in “U-tapao Project”.

IMPACT to reopen “Impact Muangthong”, starting June 1, 2020.

THAI held off ฿71.6Bn worth of debenture payment after filing for rehabilitation.

DEMCO acquired a power distribution system project from GPSC worth ฿132mn.

NER expected a recovery in Q2 as orders from China started to return, but lowered revenue forecast to 17 billion baht.

MONO discontinued two subsidiaries following a business restructuring plan.

BTS’ FY19/20 earnings soared 184% to ฿8.1Bn, offering ฿0.15 dividend payment. The company also targeted 1.1Bn shares of capital increase to private placement and increased debenture amount by ฿30Bn.

SSP started the COD of Yamaga Solar Farm, boosting its total installed capacity to 135MW.

– Stocks in Focus on June 2, 2020: CPF (Krungsri Securities TP at ฿36.25/share) and GPSC (Maybank Kim Eng TP at ฿80.00/share).


Top 10 Most Impact Shares on June 2, 2020

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