Thai Stock Market Roundup March 6, 2020
A short summary to inform investors of what had happened in the Thai stock market on March 6, 2020.
A short summary to inform investors of what had happened in the Thai stock market on March 6, 2020.
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– SET closed at 1,367.57 points, declined 26.26 points or 1.89% with a trading value of 52.2 billion baht. The analyst stated that the SET Index edged lower in the same direction as regional markets, European markets and Dow Jones Futures due to the high volatility in the market. The aid package to fight coronavirus and stimulus plans announced by the Economic Cabinet also did not have anything surprising. The SSF would help in the short-term, but expecting a huge inflow to the market was quite difficult.
Next week’s session also had signs of weakness due to no positive factors to support. The analyst expected a support level at 1,350 points and a resistance level at 1,380 points.
– Individuals scooped shares at lower prices after a plummet of 26pts in the market amid fears over coronavirus.
– The Economic Cabinet approved an aid package to provide THB 2,000 to low-income workers.
– ADVANC reinforced its digital business by investing ฿266mn in SG’s Gaming Group.
– AAV introduced measurements to fight coronavirus, limiting executives’ paycheck while accepting employees’ leave without pay offer.
– BBL’s shareholders approved the acquisition of “Permata” in Indonesia while awaiting BOT approval in Q2.
– DTC sold 40% shares of Dusit Hospitality Education PH to book ฿219.6mn.
– IATA estimated the global aviation business to lose $113bn from the impact of Covid-19.
– EGCO planned ฿30bn budget for this year’s investment, aiming to expand overseas.
– Asian Development Bank pointed out Covid-19 could trim down global GDP by 0.1% – 0.4%.
– BGRIM expected revenue to grow 15% in 2020, setting aside 63 billion baht for the investment in 2020-2025.
– Stocks in Focus on March 6, 2020: OSP (Maybank Kim Eng TP at ฿50.00/share) and BCPG (KGI Securities TP at ฿22.00/share).
 
Top 10 Most Impact Shares on March 6, 2020
