Aviation-Hotel Stocks Edge Lower amid Concerns over New Clusters and Rising Covid Cases

Stocks in aviation and hotel sectors plunged after a report of increased coronavirus cases in Thailand this week ahead of a long holiday, causing concerns over diminishing economic activities in April.

 

As of 11:12 local time in Thailand on April 7, 2021, Airports of Thailand Public Company Limited (AOT) dropped ฿2.00/share or 2.93% to ฿66.25/share with a trading value of 801 million baht.

 

Bangkok Airways Public Company Limited (BA) fell ฿0.20/share or 2.44% to ฿8.00/share with a trading value of 22.8 million baht.

 

Asia Aviation Public Company Limited (AAV) decreased ฿0.08/share or 2.86% to ฿2.72/share with a trading value of 118 million baht.

 

Central Plaza Hotel Public Company Limited (CENTEL) plunged ฿1.00/share or 2.92% to ฿33.25/share with a trading value of 86.6 million baht.

 

The Erawan Group Public Company Limited (ERW) dipped ฿0.12/share or 2.69% to ฿4.34/share with a trading value of 67.6 million baht.

 

S Hotels and Resorts Public Company Limited (SHR) slipped ฿0.10/share or 3.21% to ฿3.02/share with a trading value of 37.5 million baht.

 

DBS Vickers Securities (DBSVS) stated that the increase in coronavirus cases on Monday and Tuesday from a new cluster damaged outlook during the long holiday in April and the sentiment for travelling and tourism.

The matter of closing pubs and bars around the cluster areas is expected to propose to the Centre for COVID-19 Situation Administration (CCSA).

DBSVS advised investors to closely monitor the daily Covid-19 report, which could impact the investment sentiment and the outlook for the Thai stock market, stating that if the reopening has to push further, it would reflect negative sentiment to the country.