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

– SET closed at 1,249.89 points, decreased 21.36 points or 1.68% with a trading value of 72.2 billion baht. The analyst stated that the buying pressure still lingered at the opening, but as days progressed and investors were monitoring the government for stimulus plans amid the current crisis, the stock market started to crumble.
Cases of coronavirus escalated after virus-positive persons went or worked at essential points in Bangkok such as Suvarnabhumi Airport, tourist attractions, major business building, etc.
The government also issued a measurement to cancel free visa for Hong Kong, South Korea and Italy, while cancelling Visa on Arrival for other 18 countries in hopes to prevent the outbreak from entering stage 3.
The analyst also stated that the market had high volatility as the situation in oil price war still had not been eased while the cases from coronavirus also increase constantly, especially in Italy and S.Korea. Thus, investors should monitor the development closely and invest cautiously.
The analyst gave a support level at 1,235-1,230 points and a resistance level at 1,280 points.
– Foreign Investors and Proprietary Trading plunged SET Index with a net sell of THB 5 billion. Local Institutions slowed the pace down to a net sell of THB 131 million.
– Saudi Arabia aimed to increase its production to 13 million bpd, while Iraq gave a discount of $5 per barrel to its customer.
– AOT advised passengers to arrive early after adding screen points at all of its 6 airports.
– NWR won the bidding for Suvarnabhumi Airport’s runway 3 with a total value of 9.7 billion bat.
– BCP targeted EBITDA to reach 800-1,000 million baht in 2020 as sales tended to slow down due to coronavirus outbreak.
– Italy issued a double stimulus after EU lessening over budget rules against Covid-19.
– SISB affirmed to the public that there was “no positive cases of COVID-19” at school after students had been in close contact with an outsider who tested positive. The school will follow the Ministry of Public Health’s safety protocol for extensive cleaning.
– BoE shockingly cut interest rates by 50bps to buoy economy against virus outbreak.
– Thailand cancelled Free Visa for Italy, Hong Kong and South Korea while cancelling VOA of 18 nations to prevent the outbreak from entering 3rd stage.
– A selloff in alternative-energy stocks caused the SET Index to plummet by 21 pts.
– Stocks in Focus on March 11, 2020: JMT (Krungsri Securities TP at ฿23.00/share) and PRM (KTB Securities TP at ฿8.30/share)
 
Top 10 Most Impact Shares on March 11, 2020
