Thai Stock Market Roundup on November 30, 2021

– SET Index closed at 1,568.69 points, decreased 21.00 points or 1.32% with a trading value of 159 billion baht. The analyst stated that the Thai stock market moved in the same direction of global markets as well as Dow Jones Futures after the CEO of Moderna predicted existing vaccines will be much less effective against the omicron variant, triggering fears among investors for a selloff in risk assets and seek safe haven as Gold edged higher. Thailand also concerns that if there is an omicron in the country, it will return to a lockdown, which slowdown the economic recovery.

The analyst expected SET Index to rebound tomorrow, giving a support level at 1,560-1,550 points and a resistance level at 1,585-1,590 points.

– Foreign Investors, Local Institutions and Proprietary Trading made a three-straight day selloff amid concerns over the spreading of the omicron variant.

– In the interview with Financial Times, Moderna’s CEO predicted that existing vaccines will be much less effective against omicron than earlier strains and warned that it would take months before drugmakers can manufacture new variant-specific vaccines at scale. Bancel also suggested that the current vaccines may need to be modified next year due to the high mutation of the virus.

– Amid market volatility in fear of Covid-19 omicron, UBS advised against a hasty shift in investment and recommended staying invested.

– Prices of jet fuel under pressure on Tuesday after countries impose travel bans and travelers reconsidering their travel plans amid threats by Omicron.

– Cryptocurrency products and funds saw record year-to-date inflows as institutional investor’s engagement grew despite a decline in price. According to CoinShares, digital asset investment products saw inflows totaling $306 million last week, which adds to a record $9.5 billion inflows year-to-date.

– PTTEP announced that it has successfully made a gas discovery at the second exploration well, Nangka-1, in Sarawak SK417 Project.

– PTT established ReAcc to be the trading platform for clean energy and climate neutrality through the digital platform for the companies, which have targets and needs to procure renewable energy, to be able to easily access those energy sources.

– TTCL received a notice of award from PTT for the GSP Logistics Management Phase 2 Project in Chonburi and Rayong. The contract value is approximately 1,530 million baht.

– Stocks in Focus on November 30, 2021: RBF (KGI Securities TP at ฿26.50/share) and EA (Maybank Kim Eng Securities TP at ฿90.00/share).

 

Top 10 Most Impact Shares on November 30, 2021