Thai Stock Market Roundup on September 29, 2020
A short summary to inform investors of what had happened in the Thai stock market on September 29, 2020.
A short summary to inform investors of what had happened in the Thai stock market on September 29, 2020.
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– SET Index closed at 1,255.10 points, decreased 7.92 points or 0.63% with a trading value of 34.1 billion baht. The analyst stated that the Thai stock market swung in both positive and negative territory in the morning session, but started to follow the European markets’ footsteps in a decline as the Brexit deal would not come to a conclusion soon, while investors grappled over the first presidential debate between President Donald Trump and Democratic challenger Joe Biden.
The analyst stated that the Thai stock market could edge higher, but currently pressured by political issues, expecting tomorrow’s support level at 1,250 points and a resistance level at 1,270 points.
– A 1.48 billion baht pull back from Foreign Investors plunged SET Index by 8 points.
– ADVANC outperformed peers as the analyst expected a bright future from 4Q20 onward on a recovery in the economy and seasonality.
– The World Bank expected Thai economy to shrink at least 8.3% this year and take at least two years to return to its pre-Covid level.
– PROEN filed for its 86 million shares of IPO to expand its data center business in The Market for Alternative Investment (mai).
– DIF rebounded nearly 3% as analysts expected no fundamental impact from the possibility of TRUE’s disposition.
– Analyst forecasted a robust growth in CPF’s 3Q20 profit, giving a “BUY” rating with a target price of ฿37.50/share.
– CKP showed investors’ confidence as “NN2” debentures with a “A/Stable” rating sold out.
– Tris Rating affirmed BB+/Stable outlook on CWT as liquidity risk subsided.
– UBS expected gold to hit $2,000 by year end amid low interest rate and uncertain events such as the U.S. election and the coronavirus pandemic.
– Stocks in Focus on September 29, 2020: KTC (Maybank Kim Eng TP at ฿37.00/share) and KBANK (Krungsri Securities TP at ฿96.80/share).
 
Top 10 Most Impact Shares on September 29, 2020
