Thai Stock Market Roundup on September 22, 2021

– SET Index closed at 1,619.59 points, increased 4.73 points or 0.29% with a trading value of 79 billion baht. The analyst stated that the Thai stock market moved in sideways trends, waiting for the tapering signal from the Fed’s second-day meeting. If the Fed takes it slow, the stock market could bounce back. However, if the Fed tapers more than the market expectations, it could send a negative sentiment to the stock market.

The China Evergrande default relaxed, but lower performance of Thai corporates in 3Q could weigh the market down.

The analyst expected the Thai stock market to continue moving sideways, giving a support level for tomorrow’s session at 1,592-1,600 points and a resistance level at 1,635-1,640 points.

– Local Institutions slowed down its buying pressure, combining a billion baht of net buy to buoy SET Index by nearly 5 points.

– Global markets relaxed after China Evergrande announced to handout coupon payment for its onshore bond due 23 September to bondholders.

– Asian Development Bank cut Thailand’s economic growth forecast this year to 0.8% as the COVID-19 pandemic continues to dominate the country’s outlook.

– SET has revised the SET50 and SET100 indices’ calculation methods; ten stocks, including BBL, SCB, KBANK, SCC, BDMS, CPALL, CPN, BANPU, MINT, and LH, are expected to be weighted higher by passive fund investment under the new criteria.

– SCB denied the report of spinning off its auto loan business as investors are focusing on the Boards’ meeting today.

– Stocks in Focus on September 21, 2021: SCB (Maybank Kim Eng Securities TP at ฿130.00/share) and ADVANC (Maybank Kim Eng Securities TP at ฿218.00/share).

 

Top 10 Most Impact Shares on September 22, 2021