Thai Stock Market Roundup April 7, 2020
A short summary to inform investors of what had happened in the Thai stock market on April 7, 2020.
A short summary to inform investors of what had happened in the Thai stock market on April 7, 2020.
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– SET Index closed at 1,214.95 points, increased 76.11 points or 6.68% with a trading value of 98.9 billion baht. The analyst stated that the Thai stock market made a huge move in today’s session after receiving positive sentiment that the coronavirus outbreak in the U.S. and Europe could reach its peak this week and then started to slow down.
SET Index also received positive factors from the announcement of stimulus plans worth 1.9 trillion baht from the Thai cabinet which would lift the market, remedy people and businesses affected by the virus.
However, the analyst stated that due to a sudden high surge, the stock market could face a profit-taking in tomorrow’s session. Thus, giving a support level at 1,200 points and a resistance level at 1,238 points.
– Local Institutions led the buying team with 3.7 billion baht of net buy, following with a combine of 2.2 billion baht from Proprietary Trading and Foreign Investors to buoy the market by 76 points.
– Boris Johnson stayed in the ICU after the coronavirus symptoms “worsened”.
– DTC temporarily closed 7 hotels and started adjusting management plans to lower the cost during the coronavirus crisis.
– PTT established “PTTT USA” in the U.S. to operate an international trading business.
– BA announced a temporary closure of Samui, Sukhothai and Trat airports until April 30.
– Analysts expected CPN to be outstanding next year after pricing in the negativity this year.
– SVH formed a new subsidiary, “Digital Health Venture” to develop healthcare businesses.
– THAI hit the ceiling with 14.67% gain, expecting the stimulus plan to support airline business.
– The National Shipping Council expected Thai exports to contract at least 8% this year.
– Stocks in Focus on April 7, 2020: MINT (Krungsri Securities TP at ฿32.00/share) and OSP (Maybank Kim Eng TP at ฿50.00/share)
 
Top 10 Most Impact Shares on April 7, 2020
