Thai Stock Market Roundup on July 24, 2020
A short summary to inform investors of what had happened in the Thai stock market on July 24, 2020.
A short summary to inform investors of what had happened in the Thai stock market on July 24, 2020.
29 ก.ค. 2563

– SET Index closed at 1,340.92 points, decreased 18.83 points or 1.38% with a trading value of 46.5 billion baht. The analyst stated that the decline in the Thai stock market was in the same direction as global markets, mainly due to worries over the U.S. and China tension after Beijing retaliated by issuing an order for a closure of the U.S. consulate in Chengdu.
Moreover, the fatalities in the U.S. was above 1,000 lives for the third day in a row. In the meantime, the cases in Brazil kept on rising as well. Concerns over the prolonged outbreak caused a plummet in the U.S. stock market, even on the tech stocks that mostly reported better earnings than anticipated.
As for the Thai market that would enter a long holiday, giving the reason for a selloff to wait and see what would happen during these four days.
The analyst expected a support level for SET Index next week at 1,330 points and a resistance level at 1,360-1,380 points.
– Local Institutions, Proprietary Trading and Foreign Investors combined a ฿5.9Bn selloff to plunge SET Index by nearly 19 points.
– Shenzhen Composite dropped 5% as the U.S.-China relationship continued downhill.
– 7Up invested an additional of 500 million baht to increase its stake in “Gold Shores” to 41%, expecting the acquisition to increase its revenue and long-term net profit.
– BCP established “WIN Ingredients” to operate biological products and chemicals business.
– MINT announced the completion of its capital increase with 30% oversubscription, booking ฿9.8Bn to strengthen its business plans.
– “Sarath” emphasized GULF’s solid business, putting ฿23Bn in an overscription of RO.
– Analysts remained positive on GULF, expecting 20% net profit growth in 2021 with a target price at ฿47.00/share.
– “Supattanapong” resigned from the directorship of PTTGC amid the Thai cabinet reshuffle rumors.
– Thai June exports plunged 23.17% as Covid-19 disrupted global trade.
– China to shut the U.S. consulate in Chengdu down to retaliate the shutdown of the Chinese consulate in Houston.
– AGE affirmed of no significant financial impact from the fire at “Nadee Branch”.
– Stocks in Focus on July 24, 2020: JMT (Kasikorn Securities TP at ฿33.00/share) and RPH (DBS Vickers Securities TP at ฿6.90/share).
 
Top 10 Most Impact Shares on July 24, 2020
