Thai Stock Market Roundup on August 19, 2021

– SET Index closed at 1,544.28 points, decreased 7.59 points or 0.49% with a trading value of 78 billion baht. The analyst stated that the Thai stock market closed lower in the same direction as regional markets after the U.S. Federal Reserve signalled for tapering asset purchase this year, while strong dollars had a negative impact on stock markets.

The analyst expected the Thai stock market to move in sideways trends in both negative and positive territory, giving a support level at 1,540 points and a resistance level at 1,560 points.

– A 1.5 billion baht of net buy from Individuals and Foreign Investors were not enough to rival a selloff from Institutions and Proprietary Trading as SET Index fell 7.59 points.

– Most U.S. Fed officials agree to start tapering asset purchases this year, the minutes from July’s meeting showed

– The U.S dollar index reached a 10-month high with FED’s indication of tapering its asset purchase program early next year.

– The central banks of Thailand and Indonesia have launched a cross-border QR payment linkage between the two countries. Paying via cross-border QR linkage is aimed to ensure smooth interconnection and financial integration throughout the ASEAN region.

– The revised guidelines from the Bank of Thailand would give Thai financial institutions more room for flexibility given fast-changing business and economic challenges.

– 8 analysts recommend a “BUY” rating on MEGA, citing the potential to continue gaining momentum in 2H21 on the back of strong demand for nutraceutical and over-the-counter products.

– MINT gained for the second straight day after reporting better-than-expected 2Q21 earnings, analyst maintains a BUY rating with a target price of 38 baht.

– Stocks in Focus on August 19, 2021: SC (Asia Wealth Securities TP at ฿3.62/share) and PTG (Asia Wealth Securities TP at ฿23.10/share).

 

Top 10 Most Impact Shares on August 19, 2021