Thai Stock Market Roundup on July 13, 2021

– SET Index closed at 1,570.99 points, increased 21.15 points or 1.36% with a trading value of 75.2 billion baht. The analyst stated that the Thai stock market made a technical rebound, while estimating that the market could react positively to the Covid-19 situation that edged slightly lower for the second day, coupled with a relief package that the Thai cabinet gave a nod to in today’s meeting.

The analyst stated that the market still needs to keep monitoring the Covid-19 situation in Thailand, while waiting for the earnings announcement from the banking sector in which TISCO is expected to be the first bank to announce its result.

Moreover, the analyst recommended keeping an eye on the U.S. Fed testimony to Congress, which will be held on 14-15 July.

In addition, the analyst still saw limited upside to the SET Index, giving a support level for tomorrow’s session at 1,550-1,540 points and a resistance level at 1,573 points.

– Local Institutions net bought Thai shares for 2.4 billion baht, while Foreign Investors gave a second push for 1.4 billion baht to buoy SET Index by 21 points.

– KTBST Securities maintained “Overweight” rating on Thai media sector, picking BEC as top pick with a target price at ฿19.00/share.

– DBSVS forecast Thai stock market earnings to surge 85% in 2Q21 as majority of the listed companies are expected to record greater YoY profit on the back of a low base in 2020.

– Turnkey Communication Services submitted a filing to SEC for its IPO, expecting business expansions and creating recurring income for the business.

– SAMTEL signed a 1,037 million baht agreement to provide maintenance of meters and components in AMR System for PEA.

– ILINK signed a contract with PEA to construct a 33 KV submarine cable to expand the electrical installation zone for Koh Panyee.

– Impact Energy Asia Development, BCPG‘s subsidiary, signed a power purchase agreement with Vietnam to develop 600MW wind power plant.

– Stocks in Focus on July 13, 2021: JMT (Maybank Kim Eng Securities TP at ฿53.00/share) and SONIC (Asia Wealth Securities TP at ฿5.65/share).

 

Top 10 Most Impact Shares on July 13, 2021