Thai Stock Market Roundup on September 8, 2021
A brief summary of major changes and significant developments in the Thai stock market on September 8, 2021.
– SET Index closed at 1,640.45 points, increased 4.00 points or 0.24% with a trading value of 89.9 billion baht. The analyst stated that the volatility in the Thai stock market was due to a lack of positive drivers after a spike by more than 100 index points, while being pressured by weakened Thai baht.
The analyst recommended investors to keep an eye on the ECB meeting tomorrow with a possibility of lowering QE, while expecting an appreciation in dollars and U.S. bond yield.
In addition, the analyst expected SET Index to move sideways ahead of the ECB meeting, giving a support level at 1,625 points and a resistance level at 1,650 points.
– Foreign Investors returned with a 7.5 billion baht of net buy to buoy SET Index higher by 4pts.
– El Salvador‘s historic move on adopting bitcoin as legal tender on Tuesday hit a bump of angry protest and the glitches in a mobile application specifically designed for Salvadorans as Bitcoin wallets.
– Stocks related to vegetable and palm oil made a tremendous gain in August after the report of growing index prices from FAO.
– KTBST Securities forecasts the SET Index will break over 1,650 in the next two to three weeks, with a possible upside to 1,700, recommending SINGER, GULF, LEO, AS and ASK, which have rooms for more gain throughout 2023.
– LHFG reported a successful acquisition of a 10.99% shareholding in CTBC Bank with an investment of 4.2 billion baht.
– ASIAN and TU rallied on Wednesday amid weakened Thai baht.
– TEAMG‘s share price increased by more than 12% over the announcement that SCC had acquired a 9.90% investment, through its subsidiary, to become the company’s major shareholder.
– IP and RBF entered into an MOU regarding the research, development, and expand the production of hemp and cannabis products as permitted under applicable law.
– Stocks in Focus on September 8, 2021: CPNREIT (Maybank Kim Eng Securities TP at ฿24.00/share) and SMD (KGI Securities TP at ฿19.00/share).
Top 10 Most Impact Shares on September 8, 2021
