Thai Stock Market Roundup on August 24, 2021

– SET Index closed at 1,586.98 points, increased 4.91 points or 0.31% with a trading value of 100 billion baht. The analyst stated that the Thai stock market closed higher, following the depreciation of dollars and a significant gain in oil prices, sending the Thai stock index to nearly reach its resistance level of 1,600 before closing lower on the profit taking.

The analyst recommended investors to monitor the Fed’s symposium on 26-28 August and Thai CCSA meeting later this week to see if there will be any changes on lockdown measures after the Covid-19 infections saw a decline recently.

In addition, the analyst gave a support level for tomorrow’s session at 1,580-1,570 points and a resistance level at 1,598-1,600 points.

– A 2.9 billion baht of net sell from Individuals diminished gains in SET Index to only 5 points at the closing.

– The U.S. FDA on Monday granted full approval to the Pfizer/BioNTech COVID-19 vaccine for people aged 16 and older.

– Counting two weeks of the shutdown, the world’s third busiest port in Ningbo, China is likely to resume operations once authorities confirm no COVID cases in the port vicinity. The closure of the port skyrocketed the global freight rates pushing the Baltic Dry Index (BDI) to an eleven years high of 4147 points, increasing as high as 4.8% this month.

– CP Group unveils four strategies for the post-pandemic world, adopting the ‘Platforms of Opportunity’ business model to collaborate with more Thai businesses to reach into new overseas markets.

– As the Covid-19 outbreak is projected to subside gradually, Asia Plus Securities (ASPS) has given a “BUY” recommendation on 19 laggard stocks with strong fundamentals and high upside, such as Aeon Thana Sinsap (Thailand) (AEONTS) with 56% upside, Ratch Group (RATCH) with 46.10% upside, PTT Exploration and Production (PTTEP) with 43.30% upside, RS with 39% upside, PTT with 38.60% upside and PYLON with 38% upside.

– MEGA closed at a record high as investors speculated on outstanding 2H performance from highly-demanded herb-based and hemp-based products.

– PTTGC announced an interim dividend payment of Bt2.00 per share with an ex-dividend date on September 3.

– PTT completed the transaction for 50% stake of BGRIM’s LNG business to procure and supply LNG.

– SEAFCO acquired three new projects worth 204 million baht.

– Stocks in Focus on August 24, 2021: COM7 (Maybank Kim Eng Securities TP at ฿73.00/share) and AOT (Krungsri Securities TP at ฿78.00/share).

 

Top 10 Most Impact Shares on August 24, 2021