Thai Stock Market Roundup on July 23, 2020
A short summary to inform investors of what had happened in the Thai stock market on July 23, 2020.
A short summary to inform investors of what had happened in the Thai stock market on July 23, 2020.
24 ก.ค. 2563

– SET Index closed at 1,359.65 points, increased 2.61 points or 0.19% with a trading value of 70.2 billion baht. The analyst stated that the Thai stock market was fluctuating in today’s session as the tension between the U.S. and China lingered, while the coronavirus cases in the U.S. also continued to spike, reflecting negative sentiment to the market.
The analyst suggested investors to wait for the announcement of 2Q earnings to see the direction of the market, while giving a support level for tomorrow session at 1,350 points and a resistance level at 1,370 points.
– Local Individuals buoyed the market with a 4.4 billion baht of net buy, pushing SET Index to close 2.6 points higher.
– China blacked out Premier League broadcast to retaliate against UK’s ban on Huawei.
– Elon Musk’s Tesla to enter S&amp;P 500 after reporting a 4-straight quarter of profit.
– Thai June car exports fell 48.71%, while domestic sales shrank for a 13-straight month.
– ADB booked ฿9.7Bn in a flash from selling a portion of GULF and BGRIM shares in a big lot transaction.
– GULF’s “Sarath” respected ADB’s rights, affirming a solid growth and business plans.
– GULF expected to raise ฿32Bn of funds for more big projects in the pipeline.
– BGRIM saw no material impact from ADB’s allocation, advancing in domestic and overseas expansions as planned.
– THAI clarified on the default, revealing CIMBT and Islamic Bank as major creditors.
– The Bank of Thailand denied the rumour of currency manipulation that the market was anticipating the action could lead to a watchlist by the U.S.
– Analyst expected CPF’s 2Q profit to jump 56% due to higher swine price, giving a target price at ฿43.00/share.
– Stocks in Focus on July 23, 2020: BCPG (Krungsri Securities TP at ฿19.80/share) and PRM (Maybank Kim Eng TP at ฿9.30/share).
 
Top 10 Most Impact Shares on July 23, 2020
