To break or not to break: Evidence from price discovery process of Thai stocks during the pre-opening of each trading session To break or not to break Evidence from price discovery process of Thai

to an inventory gain of THB 856 million. However, there was a loss from crude and product oil price hedging contract at THB 75 million. Furthermore, the refinery planned to manage the stocks of

still affected by the oil price volatility in the global market. Despite the crude oil price recovery, the average crack spread between finished product and referenced crude oil price continues to decline

market, where the oil business is in on a downward trajectory following slowing global economy due to the trade war between the US and China. The Dubai crude price in 2019 averaged at 63.51 $/BBL, a

1,386 million, or earning per shares of THB 1.01. The company and its subsidiaries performance improved, especially the Refinery Business Group which still maintains its average crude run at a high level

, AUD and CNY] Port.3 5 Most value tech stocks [AAPL,MSFT,GOOG,AMZN and FB] Port.4 5 Major commodity [Crude Oil, Gold, Coffee, Natural Gas and Silver] Port.5 No.1 + No.2 Port.6 No.1 + No.3 Port.7 No.1

. The price of crude palm oil in between the 2nd quarter and the 3rd quarter of 2018 were continuously decreased in the range of THB 23.00 – THB 19.00 difference THB 4.00 /KG which is larger in variance

price of crude and finished product to make its downward trend. With demand for fuel consumption declining across the globe, combined with the Organization of Petroleum Exporting Countries [ OPEC] and

of the virus has caused demand for consumption of fuel around the world to decline with significance. This factor is putting pressure on the price of crude and finished product to drop significantly

. The Company’s net loss has increased by 94.32 million Baht or 172.94%. Increased loss is the result of adjusting up-down price of crude palm oil during 2019, the Crude Palm Oil (“CPO”) price was