Thai Stock Market Roundup on November 3, 2020
A short summary to inform investors of what had happened in the Thai stock market on November 3, 2020.
A short summary to inform investors of what had happened in the Thai stock market on November 3, 2020.
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– SET Index closed at 1,221.33 points, increased 19.17 points or 1.59% with a trading value of 50.1 billion baht. The analyst stated that the Thai stock market closed higher, in line with global trends ahead of the U.S. election.
Moreover, the market was buoyed by the energy sector after a rebound in oil prices, while the political unrest in the country started to stabilize.
The analyst expected SET Index to move sideways – sideways up with a support level at 1,210 points and a resistance level at 1,230 points.
– Local Institutions continued the buying streak, buoying SET by 19 points with a 3.3 billion baht net buy.
– IMF urged more fiscal stimulus to boost recovery amid global liquidity trap.
– Kingsford Securities expected plenty of upside for JASIF’s broadband business. In 3Q20, the company is expected to offer a dividend at ฿0.25/share after a ฿0.24 and ฿0.25 of dividend per share in 1Q20 and 2Q20, respectively. JASIF could book 8.35 billion baht with a dividend yield of 10.14%. The security company forecasted JASIF to book 8.6 billion baht of profit in 2021 with a dividend yield at 10.24%. Kingsford recommended “BUY” with a target price at ฿11.62/share.
– SCGP to take over “Go-Pak UK”, expanding packaging business in Europe-North America.
– Thai factories saw an expansion for the first time in 2020, but confidence continued to plunge.
– CPF gained 2% upon the approval of CPP to acquire swine businesses in China.
– GL plunged 28.90% in concerns of a selloff from major investors, coupled with a non-progress business plan.
 
Top 10 Most Impact Shares on November 3, 2020
