Thai Stock Market Roundup on July 22, 2021

– SET Index closed at 1,552.36 points, increased 11.48 points or 0.74% with a trading value of 69.4 billion baht. The analyst stated that the surge in SET Index was due to a buying pressure in the banking sector after 2Q21 earnings of the banks were 5-10% better than forecast. However, the analyst remained cautious on the banking sector, while awaiting to see the government’s measures on the lockdown amid rising Covid-19 cases.

The analyst recommended power plant-related stocks such as BCPG and YGG that are considered safe to invest and stocks that will benefit from the reopening such as MINT. Meanwhile, the analyst also advised to wait for Thai exports data tomorrow that is expected to expand 35-38%.

In addition, the analyst estimated that the Thai stock market will move between 1,545-1,555 points.

– Local Institutions purchased more than 2,400 million baht of Thai shares, pushing the Thai stock market to close 11.50pts higher.

– The Bank of Thailand estimated that the lockdown measures to curb Covid-19 infection could impact Thai GDP around 0.8%-2.0%.

– AOT extended credit terms of payment for concessionaires and airlines under its supervision amid the ongoing Covid-19 crisis.

– Stocks in the banking sector traded higher on Thursday due to better-than-expected earnings in 2Q21.

– ILINK announced the winner for bidding and received a Letter of Intent for construction of “Underwater optical fiber cable and procurement of equipment via e-bidding” from the Metropolitan Electricity Authority.

– BCPG expected to issue green bonds in 3Q21 for refinancing, which will allow the company to have a strong financial structure.

– EGCO announced that the company has acquired the LNG Shipper License to import the Liquefied Natural Gas in the greatest amount of 200,380 tons per year with 10 years validity from the Energy Regulatory Commission (ERC).

– Stocks in Focus on July 22, 2021: RBF (Maybank Kim Eng Securities TP at ฿22.60/share) and KBANK (Asia Wealth Securities TP at ฿177.00/share).

 

Top 10 Most Impact Shares on July 22, 2021