Thai Stock Market Roundup May 7, 2020
A short summary to inform investors of what had happened in the Thai stock market on May 7, 2020.
A short summary to inform investors of what had happened in the Thai stock market on May 7, 2020.
8 พ.ค. 2563

– SET Index closed at 1,257.98 points, decreased 20.65 points or 1.62% with a trading value of 56.2 billion baht. The analyst stated that the Thai stock market continued to decline amid negativity in the market such as the high valuation, Trump’s threat and bad 1Q20 earnings. The 2Q20 earnings also expected to mostly decline as well due to a direct effect during the lockdown. The decline in the stock market was due to a profit-taking from investors amid negative sentiment in the market.
The analyst expected tomorrow’s support level to be at 1,237-1,220 points and resistance level at 1,267-1,275 points.
– Local Institutions and Foreign Investors combined a 6.3 billion baht of net sell for profit-taking from SET Index.
– U.S. and China to begin the talk  as soon as next week after Trump threatened to terminate the phase-one trade deal.
– China exports posted a surprise jump of 3.5% in April while imports fell by 14.2%.
– CPALL acquired 7-Eleven franchising rights in Cambodia for 30 years.
– WICE invested 120 million baht to acquire an additional 30% in “WICE SG”, targeting to add profit to WICE around 150 million baht per annum.
– ORI reported a new high in sales revenue of 1.7 billion baht in April.
– LPN’s 1Q20 profit dropped 38% as income from sales plunged by 40%.
– DEMCO signed a turnkey contract with PEA for 2 substation projects worth ฿328 million.
– MPC to slash more policy rate if economy dropped further, said BOT’s senior director.
– INTUCH rose 3% in response to THCOM’s turnaround to book profit, analysts suggest a target price at ฿79.00/share.
– Stocks in Focus on May 7, 2020: JMT (Trinity Securities TP at ฿23.00/share) and CHAYO (Kasikorn Securities TP at ฿8.40/share).
 
Top 10 Most Impact Shares on May 7, 2020
