Thai Stock Market Roundup on June 23, 2021

– SET Index closed at 1,592.08 points, decreased 7.15 points or 0.45% with a trading value of 77.7 billion baht. The analyst stated that the Thai stock market edged and closed lower after the Monetary Policy Committee (MPC) revised down Thailand’s GDP to 1.8% citing low foreign tourist arrivals and severe effects from the third wave of Covid-19.

Meanwhile, the vaccine jab was also performing lower than anticipated, coupled with the upcoming of political gatherings by pro-democratic protests that caused concerns to investors.

The analyst expected SET Index to continue moving in sideways trends in tomorrow’s session, giving a support level at 1,580-1,567 points and a resistance level at 1,600-1,610 points.

– A 1.6 billion baht of selloff from Local Institutions plunged SET Index by 7 points.

– The U.S. Fed will not raise rates preemptively on inflation fears, saying that the recent rise came from the reopening of the economy.

– RATCH invested in 2,045 MW coal-fired thermal power plants in Indonesia, while expecting 770 million shares of capital increase.

– The government reaffirmed Phuket’s reopening on July 1, 2021. Asia Plus Securities expects aviation and tourism-hotel stocks will enjoy positive sentiment from country reopening.

– The share price of KWM continued to rise as MBKET expected 2021 earnings to increase 126% on higher sales and margin.

– The Monetary Policy Committee unanimously voted to retain the policy rate at 0.50%, as Thailand’s economic recovery from the third wave of the Covid-19 pandemic was slower than expected. Meanwhile, the committee also lowered its GDP growth forecast for 2021 to 1.8%, citing low foreign tourist arrivals and severe effects from the third wave of Covid-19.

– KSS expected SCGP‘s earnings in 2021-22 to increase 9% and 15%, respectively, on greater synergies of cross-selling and integration strategy.

– KTBST has given a “BUY” recommendation on PTT Exploration and Production, with a target price of 142.00 baht, in anticipation of significant growth in 2Q21 core profit.

– Stocks in Focus on June 23, 2021: SFT (KGI Securities TP at ฿8.00/share) and AP (Maybank Kim Eng Securities TP at ฿9.80/share).

 

Top 10 Most Impact Shares on June 23, 2021