Thai Stock Market Roundup April 10, 2020
A short summary to inform investors of what had happened in the Thai stock market on April 10, 2020.
A short summary to inform investors of what had happened in the Thai stock market on April 10, 2020.
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– SET Index closed at 1,228.03 points, increased 17.55 points or 1.45% with a trading value of 53.7 billion baht. The analyst stated that the Thai stock market moved narrowly with considerably low trading value compared to the previous days.
The market was supported by retail stocks, ICT and power generator related stocks in anticipation of reaching the peak of the coronavirus outbreak soon. Moreover, the aid packages from the government were expected to be able to offset the severity of the outbreak.
The analyst expected that the market could continue its gain next week and suggested to keep a close eye on the outcome of the G20 meeting on oil production, Thai exports/imports data and care sales.
The support level for next week is 1,200-1,162 points and resistance level at 1,250 points.
– Local Individuals and Proprietary Trading continued their buying streak for the second day with a net buy of 2.4 billion baht.
– OPEC+ agreed to a 10 million bpd cut in May to June. Then the cut will be lower to 8 million bpd in July to December, and lower to 6 million bpd from January 2021 to April 2022.
– WTO forecasted 2020 global trade to fall by 13%-32% due to Covid-19 disruption.
– Boris Johnson released from ICU and now recovered in a normal ward.
– THAI soared nearly 100% after hitting the ceiling five days in a row.
– MAJOR cut its dividend payment to ฿0.35 to maintain the liquidity after cessation of its business due to the coronavirus outbreak.
– BEM awarded CK a project worth ฿830mn to construct and improve the Si Rat Expressway.
– AMATA entered into a joint venture with “Broadwin International” to develop Amata Chinese Smart City.
– DEMCO acquired a ฿283mn project from PEA to construct Khu Khot Substation.
– Stocks in Focus on April 10, 2020: PTTEP (Kasikorn Securities TP at ฿107.00/share) and CPF (Krungsri Securities TP at ฿30.00/share).
 
Top 10 Most Impact Shares on April 10, 2020
