Thai Stock Market Roundup on June 24, 2021

– SET Index closed at 1,585.72 points, decreased 6.36 points or 0.40% with a trading value of 83 billion baht. The analyst stated that the Thai stock market had a weaker performance compared to other markets in the region due to concerns over Covid-19 cases that remained high in the country, which might lead to another lockdown after there were some calls requesting to impose a lockdown restriction in certain areas.

The political gathering also reflected negative sentiment, but only a small impact compared to the Covid-19.

The analyst stated that there could be a technical rebound in the Thai stock market in tomorrow’s session, but the gain would be limited as fund flows are still seeking more return elsewhere. The analyst estimated a support level at 1,570 points and a resistance level at 1,590-1,600 points.

– Local Institutions continued on a 4th day of selling streak, withdrawing 1.8 billion baht from the Thai stock market and causing SET Index to drop 6 points. Meanwhile, SET Index was on a 6-day losing streak.

– Thai Food and Drug Administration (FDA) approved Pfizer‘s vaccine for emergency use as a vaccination against coronavirus.

– KGI Securities (KGI) maintained an Overweight rating on Thai healthcare sector with BDMS and BCH as the Top Picks for their potential earnings improvement in 2022 and solid business platforms.

– The share price of RATCH continued to decline in concerns over the dilution effect from the capital increase. CNS had a positive view in the long run.

– Thailand’s exports expanded 41.59% year-on-year to USD23,057 million in May, the highest rate in 11 years, as the global economy recovered.

– NWR acquired a construction of flood protection wand with a project value of 296,900,000 baht.

– The Supreme Court  rendered the final judgement. PTT expected to book 600 million baht from two disputes against RPCG.

– Stocks in Focus on June 24, 2021: PTT (KGI Securities TP at ฿54.00/share) and BCH (Krungsri Securities TP at ฿24.00/share).

 

Top 10 Most Impact Shares on June 24, 2021