Thai Stock Market Roundup March 16, 2020
A short summary to inform investors of what had happened in the Thai stock market on March 16, 2020.
A short summary to inform investors of what had happened in the Thai stock market on March 16, 2020.
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– SET closed at 1,046.08 points, declined 82.83 points or 7.34% with a trading value of 68.1 billion baht. The analyst stated that the Thai stock market declined in the same direction of the regional markets due to concerns over the coronavirus outbreak, especially Thailand that was expected to enter Phase 3 soon.
The analyst expected the market to continue its decline if there is no new positive factor to support. The support level for tomorrow’s session is 969-950 points and the resistance level at 1,100 points.
– Local Institutions slowed down the buying pressure to 1.9 billion baht, falling to a combined 6.8 billion baht from Proprietary Trading and Foreign Investors.
– The Fed declared an emergency rate cut to 0% with a massive $700bn QE to support the economy.
– America to test a vaccine against the new coronavirus on Monday.
– TFG approved a share repurchase program not exceeding 150 million baht.
– CPF approved a share repurchase program not exceeding 1,000 million baht.
– SISB declared “Pracha Uthit Campus” a virus-free area, expecting to reopen on 25 March.
– SAMART acquired an improvement in excise tax for a domestic beer project worth ฿8bn.
– PTG moved to Thailand’s number 2 gas stations in sales, expecting EBITDA to rise 15-20% this year.
– Stocks in Focus on March 16, 2020: CBG (KTB Securities TP at ฿123.00/share) and TISCO (Maybank Kim Eng TP at ฿105.00/share).
 
Top 10 Most Impact Shares on March 16, 2020
