Thai Stock Market Roundup on July 2, 2021

– SET Index closed at 1,578.49 points, decreased 15.26 points or 0.96% with a trading value of 80.9 billion baht. The analyst stated that the decline in the Thai stock market was due to concerns over the acceleration of Covid-19 cases in Thailand, coupled with the upcoming political gathering, resulting in a selloff to lower the risk.

Meanwhile, the majority of Asian stock markets were negative as investors were monitoring the OPEC meeting and the U.S. nonfarm payroll.

The analyst expected the Thai stock market to perform better next week as investors would make a speculative buy on securities with strong 2Q21 results, expecting a support level at 1,565-1,550 points and a resistance level at 1,585-1,595 points.

– Foreign Investors and Local Institutions combined a 5.4 billion baht of selloff to plunge SET Index by 15 points amid concerns over Covid-19 situation.

– KTBST had a positive view of TIDLOR’s loan growth outlook and the bancassurance business in 2021-22, maintaining a “BUY” rating but raised a target price to 57.00 baht.

– OR announced the award for the joint venture with Bangkok Aviation Fuel Services Public Company Limited (BAFS) to provide aviation fuel services at U-Tapao International Airport.

– Asia Plus Securities (ASPS) forecast Thailand’s reopening to foreign tourists on July 1, under the Phuket Sandbox program, would have positive sentiment on aviation and tourism plays.

– The Supreme Administrative Court gave the final verdict to dismiss CAT‘s 2,449 million baht claim over Digital PCN 1800 Agreement with ADVANC.

– CK signed a contract worth 330 million baht for the Project of Improvement of Machinery & Equipment of the Banglen Water Treatment Plant with the help of TTW.

– Stocks in Focus on July 2, 2021: AP (Maybank Kim Eng Securities TP at ฿9.80/share) and MTC (Maybank Kim Eng Securities TP at ฿68.00/share).

 

Top 10 Most Impact Shares on July 2, 2021