Thai Stock Market Roundup March 10, 2020
A short summary to inform investors of what had happened in the Thai stock market on March 10, 2020.
A short summary to inform investors of what had happened in the Thai stock market on March 10, 2020.
11 มี.ค. 2563

– SET closed at 1,271.25 points, increased 15.31 points or 1.22% with a trading value of 74.6 billion baht. The analyst stated that the Thai stock market bounced back in today’s session in the same direction with the regional market in a technical rebound and hopes of an injection from the US Federal Reserve. Dow Jones Futures also jumped 1,000 points after the U.S. President Donald Trump floated the idea of a payroll tax cut.
The analyst also stated that the plummet was heavy due to oil-related stocks dragged the market down. On the other hand, there were some benefiting stocks from this crisis and some already entered recession. Thus, the current situation is considerably interesting to invest in the stock market. To be safe, it is better for the index to reach 1,300 points to gain potential for further hikes.
A support level for tomorrow’s session is 1,250 points and a resistance level at 1,300 points.
– Local Institutions, Individuals and Proprietary Trading combined a net buy of THB 7.2 billion to recover SET Index by 15 points.
– Saudi Arabia escalated the oil-price war further by increasing production to its max capacity at 12.3 bpd.
– Italy locked down the entire country to contain the escalation of the Covid-19 outbreak.
– China showed signs of victory over coronavirus. Xi Jinping visited Wuhan to encourage people.
– IVL joined hands with “Coca-Cola Philippines” to set up the PET recycling plant near Manila.
– CPF and CPALL gained more than 4% after acquiring the right to operate Tesco in Thailand and Malaysia.
– ITEL targeted to bid for more projects worth 6.5 billion baht, expecting a 5-year CAGR at 20-30%.
– Stocks in Focus on March 10, 2020: PTT (DBS Vickers Securities TP at ฿40.00/share) and JWD (Tisco Securities TP at ฿10.00/share)
 
Top 10 Most Impact Shares on March 10, 2020
