Thai Stock Market Roundup on July 14, 2020

– SET Index closed at 1,341.07 points, decreased 1.30 points or 0.10% with a trading value of 63.9 billion baht. The analyst stated that the Thai stock market narrowed the whole-day losses to only 1.30 points at the closing after a soft buying pressure in the major bank stocks in response to a report of the Bank of Thailand to reduce the amount commercial banks pay into the Financial Institutions Development Fund (FIDF) after its first reduction in April.

However, concerns over the resurgence of the second outbreak remained after California closed some businesses due to its high contagious rates, while suggesting to keep a close eye on the development of new cases in Thailand.

The analyst expected a support level for SET Index in tomorrow’s session foat 1,325 points and a resistance level at 1,345-1,350 points.

– The buying pressure from Individuals and Foreign Investors negated most negativity in the market, buoying SET to close with a 1.30 points decline.

– China trade data for June grew amid recovering measures after a pandemic outbreak.

– Huawei announced a 13% revenue growth in 1H despite U.S. sanctions and the pandemic.

– SET joined M-DAQ to launch a solution for real-time SET50 stock prices in 10 currencies.

– SCB established “Purple Ventures” to provide an e-marketplace platform service.

– Krungsri Securities disposed of 0.2593% of TCAP to hold 4.955%.

– THAI appointed “McKinsey” to cooperate with “EY” for a rehabilitation plan.

– Analysts expected TISCO to post a 2Q20 profit of ฿1.4bn, recommending “BUY” with a target price at ฿97.00/share.

– “Daelim” officially withdrawn from a JV with PTTGC in U.S. petrochem project worth ฿10Bn.

– MINT announced a reduction of RO price to ฿17.5 at for shareholders’ best interest.

– Stocks in Focus on July 14, 2020: ANAN (Asia Wealth Securities TP at ฿1.90/share) and SMPC (KGI Securities TP at ฿15.00/share).

 

Top 10 Most Impact Shares on July 14, 2020