Thai Stock Market Roundup on June 25, 2020
A short summary to inform investors of what had happened in the Thai stock market on June 25, 2020.
A short summary to inform investors of what had happened in the Thai stock market on June 25, 2020.
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– SET Index closed at 1,325.88 points, decreased 7.55 points or 0.57% with a trading value of 60.8 billion baht. The analyst stated that the plummet in the Thai stock market was due to a dim outlook from the Bank of Thailand’s announcement yesterday, coupled with a revised down of global GDP from IMF over the night, sending negative sentiment to Asia markets in the next trading day.
Meanwhile, the state of emergency will be prolonged for another month and the Travel Bubble measure still has yet to be confirmed, leaving no positive factor to support the market.
The analyst expected some buyback after a steep fall in the market, especially the banking sector that was being laggard from the recent selloff.
In addition, the analyst expected SET Index to swing sideways and possibly a technical rebound in tomorrow’s session, give a support level at 1,310 points and a resistance level at 1,330 points.
– Individuals made a solo-buying session for 1.7 billion baht, but failed to outlast the selloff from Local Institutions, Proprietary Trading and Foreign Investors that plunged SET by 7.5 points.
– Qantas to cut 6,000 jobs as a recovery plan to survive amid the pandemic.
– Thailand prolonged the state of emergency for another month.
– ACAP dropped 9.76% after announcing a cross-default for 7 series of debentures worth ฿1.88Bn.
– FPT joined hands with Central Watson to develop the logistics center of Isan Region.
– ADVANC is well-prepared for 5G, while expecting to launch stand-alone services in July.
– Analyst saw RS earnings to grow significantly in 2H20, recommended “BUY” with a target price at ฿18.00/share.
– WHA issued a debenture not exceeding 4,000 million baht for major investors and institutions.
– Stocks in Focus on June 25, 2020: BCH (Krungsri Securities TP at ฿17.50/share) and INTUCH (Krungsri Securities TP at ฿74.00/share).
Top 10 Most Impact Shares on June 25, 2020
