Thai Stock Market Roundup on May 5, 2021

– SET Index closed at 1,549.22 points, decreased 33.91 points or 2.14% with a trading value of 127 billion baht. The analyst stated that a sharp plunge in the Thai stock market was due to concerns over the Covid-19 situation in Thailand that could suppress the economic recovery, resulting in a selloff in big-cap stocks, especially the banking sector, tourism and retail.

The analyst expected the stimulus plan to keep the overall outlook stable, but the economy would have a slow recovery, coupled with a possibility for a revised down GDP growth.

In addition, the analyst advised to keep monitoring the Covid-19 situation in Thailand, expecting the stock market to rebound and gave a support level at 1,530 points and a resistance level at 1,560 points.

– A selloff over 10.4 billion baht from foreign investors plunged SET Index by 34 points amid concerns over Covid-19 situation in Thailand.

– MPC ​on May 5, 2021, voted unanimously to hold the benchmark interest rate at 0.50% per annum as Thailand could fall into an economic recession amidst the resurgence of Covid-19 outbreak.

– RATCH invested 272 million baht to acquire 80-MW near-shore wind plant in Vietnam.

– CPALL fell 3.6% on its ex-dividend date for a Bt0.90 dividend payment amid plummet in the Thai stock market over concerns of Covid-19 resurgence.

– Thai CPI expanded 3.41% in April as power bill reduction ended and consumer prices rose.

– TMB planned the listing of its car title loans unit spinoff on Thai Stock Exchange as the overall outlook of this business has a high potential growth level, said a source close to the matter.

– Shipping stocks rose as BDI soared past 3,000 points. The analyst expected sector’s earnings to rebound in 1Q21.

– TOP completed the transfer of its Marine Transport business unit and acquire 858 million baht to focus on its core businesses.

– The Singapore Stock Exchange gave a green light on STGT‘s secondary listing under conditional Eligibility-to-List (ETL) conditions.

– Stocks in Focus on May 5, 2021: SAT (Maybank Kim Eng TP at ฿22.50/share) and LEO (Trinity Securities TP at ฿8.20/share).

 

Top 10 Most Impact Shares on May 1, 2021