MINT Continues to Fall 2%, Concerning for News of Selling Pressure from Institutions
MINT Continues to Fall 2% , Concerning for News of Selling Pressure from Institutions 
MINT Continues to Fall 2% , Concerning for News of Selling Pressure from Institutions
24 ก.ค. 2562

Minor International Public Company Limited or (MINT) closed in the morning session at THB 40/share, fell THB 0.75 or 1.84%. During the session, the highest of MINT’s share THB 40.75/share and lowest THB 39.25/share with a trading value of THB 1,019 million.
Asia Plus Securities expects a 2Q2019 profit of Minor International Public Company Limited or (MINT) to outperform its sector and not lower than THB 2000 million in the quarter. An increase of the profit will be driven by hotel business, especially NH Hotel group which earns the highest proportion of the revenue due to the high season. Moreover, the economic stimulation plan of the government will be a positive factor to the domestic buying power which supports the Same Store Sales Growth (SSSG) and a whole profit of 2019 to increase 14% YoY to THB 6,796 million.
Asia Plus said that the share price of MINT is going to increase after it could breakout the symmetrical triangle. Recently, the price is testing a resistance line at THB 42.25. If the price has weakened to a support line, it is a chance to accumulate MINT’s share for speculation when the price follows the trend and recovers. Therefore, Asia Plus estimates the next resistance line at THB 45.00.
However, a source familiar with the matter said the share price of MINT has declined due to selling pressure from domestic institutions, which mostly hold Minor International Public Company Limited or MINT’ share. They will pour MINT’s share and wait for some investors to sell LTF, which maturing in this period of time after the SET Index has been increased quite a lot. Additionally, the government will stop to provide a tax benefit for LTF investment in 2019 which the investor might change to invest in RMF instead. 