SET Index Rebounds in the Morning Session after a Sharp Decline in Last 4 Days

The Thai market posted a rebound on Wednesday, with the SET Index closing at 1,583.31 points in the morning session, up 14.62 points or 0.93%, with a trading value of THB56,955 million.

Mr. Chaiyot Jiwangkul, Assistant Director of Krungsri Securities (KSS), through “Kaohoon Jor Talad Program” on December 1, 2021, stated that he expected the Thai stock market to price in the negativity from Omicron and believed SET Index to rebound, adding that a sharp plunge will have a sharp rebound.

Mr. Jiwankul asserted that South Africa, the first country to report an omicron variant, has steady daily Covid cases, while the most concerning should be in Europe that saw an acceleration in Covid-19 cases.

As for today’s top pick, Mr. Jiwangkul chose Eastern Polymer Group Public Company Limited (SET: EPG), citing strong 4Q21/FY1Q22 in every segment, giving target price at THB16.00/share with a support level at THB 10.50-10.80 and a resistance level at THB12.00 per share.