Thai Stock Market Roundup on 16 November 2021

– SET Index closed at 1,644.01 points, increased 5.28 points or 0.32% with a trading value of 86.4 billion baht. The analyst stated that the Thai stock market edged higher, driven by domestic play after the Thai GDP came out better than expected with an estimate of 3.5-4.5% growth next year. Meanwhile, the market is looking forward to the result of the U.S. and China meeting, expecting a positive outcome.

The analyst forecast that the domestic play would continue to support the Thai stock market in tomorrow’s session, giving a support level at 1,635-1,640 points and a resistance level at 1,655-1,660 points.

– Individuals took profit for 3.8 billion baht as SET Index extended its gain for four straight day.

– President Joe Biden signed more than $1 trillion dollar of infrastructure bill fulfilling one part of this economic vision.

– The Premier of the U.S. and China in a virtual meeting on Monday reached consensus to ease the relationship between the two countries on mutual cooperation.

– Unemployment rate in the U.K. fell to 4.3% for the three months to September from 4.5% earlier, beating forecast of 4.4%. The unemployment number hit the lowest since the three months to July 2020.

– Elon Musk sold another $930 million shares to meet tax obligation, however filings say the sale was pre-planned in September.

– The Extraordinary General Meeting of Shareholders of SCB approved an establishment of SCBx and an interim dividend payment of THB70 billion. From the standpoint of a rebound in 2022 earnings and the latest restructuring plan, the analyst recommends “BUY” for SCB with a target price of 150 baht.

– SUPER approved the purchase of shares in Power Technology International Co., Ltd with the total transaction value approx. 760,229,085 baht.

– PTTGC rated number one for three consecutive years in the world in the DJSI Chemicals Sector, as it transitions into net zero organization.

– Stocks in Focus on November 16, 2021: MEGA (Maybank Kim Eng Securities TP at ฿55.00/share) and RATCH (KGI Securities TP at ฿59.75/share).

 

Top 10 Most Impact Shares on November 16, 2021