Thai Stock Market Roundup on August 3, 2021

– SET Index closed at 1,540.51 points, increased 15.40 points or 1.01% with a trading value of 69.6 billion baht. The analyst stated that the Thai stock market closed higher, in line with other regional markets and the European markets as concerns on the Covid-19 relaxed after the recovery rate rose to match with the infection rate. Meanwhile, the banking sector made a rebound after the previous selloff.

In addition, the analyst stated that there is still an upside to SET Index after being more than a hundred point down in the past one and a half months, giving a support level at 1,525-1,530 points and a resistance level at 1,540-1,550 points.

– Local Institutions, Proprietary Trading and Foreign Investors made a net buy of more than 1 billion baht to buoy SET Index by 15 points.

– The Asian Banker has recognized “Banthoon Lamsam” as a highly accomplished leader in the financial services industry.

– Credit Suisse downgraded ADVANC to NEUTRAL and cut target price from Bt243 to Bt187, seeing pressure from 5G investment to take its toll on ADVANC’s growth.

– MBKET maintained a “BUY” rating on GLOBAL but raised the target price to 27 baht as 2Q21 results exceeded market expectations and reached a new high.

– The current trading price of BAM and CHAYO gives room for higher gains with growth in earnings from cash collection and JV synergy.

– ILINK made a 4th consecutive day in gain as investors were speculating on additions of project acquisitions by the company.

– FTREIT recorded YoY growth of 12.1% in its total revenue to THB 2,539.9 million for the first nine-month of 2021, while net investment income increased by 15.7% YoY to THB 1,752.8 million.

– US Dollar takes a toll against Thai baht with slow vaccine rollout and escalating COVID-19 infection rate in Thailand.

– THCOM recorded a net loss of 41 million baht in 2Q21 without support from compensation income as in 2Q20.

– Stocks in Focus on July 2, 2021: GLOBAL (Maybank Kim Eng Securities TP at ฿27.00/share) and DTAC (Krungsri Securities TP at ฿57.00/share).

 

Top 10 Most Impact Shares on August 3, 2021