Thai Stock Market Roundup on September 2, 2020

– SET Index closed at 1,315.88 points, increased 10.31 points or 0.79% with a trading value of 43.6 billion baht. The analyst stated that the buyback came in the afternoon session in response to the announcement of CCSA that approved a ฿3,000 financial aid to 15 million individuals and top-up benefits for domestic travellers.

Meanwhile, Dow Jones Futures also edged higher, together with the oil prices that saw a decrease in crude inventory and an uptick in demand.

The analyst stated that SET Index could face a profit taking in tomorrow’s session, giving a support level at 1,305 points and a resistance level at 1,320 points.

– Local Individuals, Local Institutions and Proprietary Trading combined a ฿1.27Bn of net buy to buoy SET Index by 10 points.

– Oil surged to $46 as U.S. crude inventories fell and manufacturing began to pick up.

– CCSA approved ฿3,000 financial aid to 15 million individuals and top up benefits for domestic travellers.

– CPF denied the news of acquiring Taiwan-based Jih Sun Financial Holding.

– Mr. Paisan Chirakitcharern, CFO of CPF, is named “Best CFO in Thailand 2020” at the Alpha Southeast Asia Magazine’s 10th Annual Institutional Investor Awards for Corporates.

– TRIS upgraded SINGER’s outlook to “Stable” with BBB- rating, reflecting strong capital.

– WICE jumped 14.81%, the analyst upgraded a target price to ฿5.6 in anticipation of a robust 2H20 profit.

– Dusit International chartered expansion of ASAI Hotels to meet the new-normal style.

– SCM joyfully announced an oversubscribed IPO, the analyst gave a fair value at ฿2.92/share.

– Stocks in Focus on September 2, 2020: JMT (Maybank Kim Eng TP at ฿39.00/share) and SMPC (KTB Securities TP at ฿16.00/share).

 

Top 10 Most Impact Shares on September 2, 2020