Thai stocks fall -1.52 points amid concerns over EA outage, likely to be prolonged

Thai stocks closed the market down -1.52 points Analysts revealed that Thai stocks fluctuated in the morning, higher, supported by the announcement of the merger between GULF-INTUCH, which pushed ADVANC-THCOM stock prices higher – to close negative in the evening due to concerns. About the impact on EA shares falling to the ground for the second day Tomorrow's investment framework assessment, the support level is 1,310 points and the resistance level is 1,325 points, we recommend monitoring the Dow Jones, Nasdaq and S&P500. The US stock market that has not been adjusted inconsistently.

The Thai stock market closed for trading on July 17, 2024, down -1.52 points or -0.12%, to close at 1,319.79 points, with a trading value of 46,557.81 million baht, while the total stock traded today. The index moved in the positive territory in the morning due to the merger between GULF and INTUCH, while it declined in the afternoon after concerns over EA shares returned to weigh on the market, as it fell for the second day in a row, rising to a high of 1,330.22 points in the opposite direction that fell to a low of 1,318.41 points.

While the number of securities that changed hands today increased by 143, remained unchanged by 167, and decreased by 342.

In terms of trading volume classified by investor group, it was found that foreign investors net bought more than +695.26 million baht, domestic investors net sold more than -17.65 million baht, securities companies sold more than -474.66 million baht, and institutional investors net sold more than -202.95 million baht.

The securities with the highest trading value are 5 securities.
1. INTUCH trading value 6,141.58 million baht, closing at 79.00 baht, up 2.75 baht.
2. ADVANC trading value was 4,796.64 million baht, closing at 224.00 baht, up 4.00 baht.
3. The value of Gulf shares trading reached 4,062.78 million pounds, closing at 45.00 baht, an increase of 2.75 baht.
4. Delta's share traded at 3,608.12 million baht, closing at 94.75 baht, up 1.25 baht.
5. CPALL's trading value reached 1,435.48 million baht, closing at 57.00 baht, up 0.25 baht.

As for the SET100 index, the five stocks with the most positive price increases are:
1. ADVANC stock closed at 224.00 baht, up 4.00 baht or 1.82%.
2. Gulf shares closed at 45.00 baht, up 2.75 baht, or 6.51%.
3. INTUCH shares closed at 79.00 baht, up 2.75 baht or 3.61%.
4. DELTA shares closed at 94.75 baht, up 1.25 baht, or 1.34%.
5. KBANK shares closed at 126.50 baht, up 1.00 baht or 0.80%.

As for the SET100 index, the five stocks with the biggest price declines are:
1.EA shares closed at 6.40 baht, down 2.75 baht or 30.05%.
2. SAPPE shares closed at 93.00 baht, down 2.00 baht or 2.11%.
3. HANA shares closed at 47.00 baht, down 1.50 baht or 3.09%.
4. BBL stock closed at 135.00 baht, down 1.50 baht or 1.10%.
5. BCP closed at 35.00 baht, down 1.25 baht or 3.45%.

While the SET100 index closed at 1,803.58 points, up 1.09 points or 0.06%, the SET50 index closed at 824.25 points, up 1.63 points or 0.20%, and the May Market index closed at 342.94 points, down -3.52 points or -1.02%.

Mr. Sarawut Techukawalit, Senior Director of Securities Analysis Department at RHB Securities (Thailand), said that the Thai stock market index rose this morning supported by Gulf Energy Public Company Limited (GULF) and Intouch Holdings Public Company Limited (INTUCH) announcing a merger, which also led to the rise in ADVANC-THCOM stock prices. Including the strong buying power of speculation, DELTA helps support the market.

While in the afternoon the index fell. It is still under pressure from stocks and Energy Absolute Public Limited (EA) fell for the second day, weighing on the index by about 0.8 points, and the problems with EA also caused concerns about the debt provisions of creditor banks in the second half of the year.

Asian Stock Markets Overview Japanese and Taiwanese stock markets saw selling pressure in the technology sector. This was due to concerns that if Mr. Donald Trump wins the US presidential election, it could escalate the trade war between China and the US. Trump has said that the US may impose tariffs on Japanese companies that allow China access to technology, and has also said that Taiwan should pay the US territorial protection fees, which caused shares of TSMC, a major Taiwanese chipmaker, to fall today.

“Tomorrow’s trend is expected to swing sideways and weaken. We recommend following EA’s stock price if it falls to the third floor, will there be purchasing power or not? When assessing EA’s situation, it may be necessary to find a strategic partner and monitor whether it will default on loans and bonds or not. However, at first we see that EA’s business can still move forward. But there may be confidence issues. Including the plan to issue a new batch of bonds may have to be postponed after the credit rating was downgraded to Junk Bond. However, if EA has good news, it may encourage the stock price to rebound. As for foreign factors, we still need to follow the fluctuations of the US stock market. Behind the Dow Jones, the Nasdaq and the S&P 500 moved inconsistently. Looking at the support level of 1,310 points and the resistance level of 1,325 points, Mr. Sarawut concluded.