Aviation-Tourism Stocks Rally in Joy as Thailand Expects Full Re-Opening within 120 Days
Aviation and Tourism stocks edged higher in response to the anticipation of fully re-opening the country within 120 days to boost Thai economy.
Stocks in transportation & logistics, especially aviation business, and tourism & leisure sector made a surge on Thursday in response to the strong confidence from the Thai Prime Minister yesterday on a full re-opening of the country within 120 days.
At the closing of the morning session on June 17, 2021, Asia Aviation Public Company Limited (AAV) rose ฿0.42/share or 15% to ฿3.22/share.
Bangkok Airways Public Company Limited (BA) rose ฿0.70/share or 7.07% to ฿10.60/share.
Airports of Thailand Public Company Limited (AOT) rose ฿0.75/share or 1.12% to ฿68.00/share.
S Hotels and Reports Public Company Limited (SHR) rose ฿0.02/share or 0.57% to ฿3.54/share.
The Erawan Group Public Company Limited (ERW) rose ฿0.04/share or 1.22% to ฿3.32/share.
Asia Wealth Securities (AWS) weighted stocks in the Laggard and Re-opening (Domestic Play) groups to reduce market volatility as the volatility of the SET will occur in the short-term. Despite concerns over the U.S. high inflation and the Fed’s signal for a faster-than-expected rate hike to occur in 2023 than the previous estimate in 2024, AWS believed that there are still positive sentiment in the re-opening segment after the Prime Minister plans to open the country within 120 days.