Thai Stock Market Roundup on June 12, 2020
A short summary to inform investors of what had happened in the Thai stock market on June 12 2020.
A short summary to inform investors of what had happened in the Thai stock market on June 12 2020.
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– SET Index closed at 1,382.56 points, declined 14.21 points or 1.02% with a trading value of 85.7 billion baht. The analyst stated that the Thai stock market plunged in the morning session in the same direction as the regional market and the overnight Wall Street. However, the index negated some negativity in the afternoon when the European opened higher by 1-2% and Dow Jones Futures rebounded.
The Thai stock market was also supported by the announcement of phase 4 easing that included lifting night curfew, paving ways for some businesses such as street foods and bars to do their business easier.
The analyst expected SET Index to move in both territories next week as its valuation was still relatively high when compared to other markets in the region, giving a support level for next week at 1,375-1,360 points and a resistance level at 1,400-1,410 points.
– Foreign Investors led the selling team with 2,000 billion baht of net sell to plunge SET Index by 14 points.
–  UK reported the largest-monthly drop in GDP at 20.4%, mainly due to the coronavirus outbreak, paralyzing the economy.
– Thai government to lift night curfew from June 15, while maintaining the State of Emergency Decree.
– MCS acquired a new project from “Kajima” at the amount of 11,350 tonnes.
– GULF adjusted the stake in Oman’s “Marafiq” to 49%, expecting to expand the business in Duqm SEZ.
– SKY acquired a common-use passenger processing system project from AOT worth ฿8.62bn.
– ITEL signed a data service contract with KTB worth ฿165mn.
– Stocks in Focus on June 12, 2020: COM7 (Maybank Kim Eng TP at ฿30.00/share) and BBL (KGI Securities TP at ฿156.00/share).
 
Top 10 Most Impact Shares on June 12, 2020
