Thai Stock Market Roundup on June 10, 2020
A short summary to inform investors of what had happened in the Thai stock market on June 10 2020.
A short summary to inform investors of what had happened in the Thai stock market on June 10 2020.
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– SET Index closed at 1,418.77 points, increased 10.40 points or 0.74% with a trading value of 77.4 billion baht. The analyst stated that the Thai stock markets closed positive today amid fluctuation in the global market as investors were waiting to see the economic direction from the Fed.
The Thai stock market still received positive sentiment from the gradual lockdown easing measures after the announcement of preparing to unlock phase 4, but the investment started to slowdown due to high valuation in the market.
The analyst advised investors to monitor the Fed’s meeting to see the economic direction after the meeting in March was postponed due to the coronavirus outbreak.
The support level for tomorrow’s session is 1,410 points and the resistance level is 1,430 points.
– Foreign Investors and Proprietary Trading combined a net buy of 1.8 billion baht to buoy SET Index by 10 points.
– “Goldman Sachs” warned of correction in oil prices as gushing inventory still existed.
– OECD expected global growth to contract 7.6% in 2020 if the second wave hit.
– Chinese producer price fell further in May as Covid-19 continued to plunge global demand.
– Thailand to reopen schools and more businesses, entering to phase 4 of lockdown easing
– CPF’s new subsidiary “CP Foods Capital” to offer $275mn of exchangeable bonds.
– AGE expected revenue in 2020 to record at 8 billion baht, advancing in logistics to diversify the risk.
– KGI expected the food sector to recover in 2H, raising TP of CPF to ฿38 with top pick rating.
– Stocks in Focus on June 10, 2020: KKP (KGI Securities TP at ฿64.00/share) and IVL (Trinity Securities TP at ฿41.00/share).
 
Top 10 Most Impact Shares on June 10, 2020
