CENTEL and ERW Lead Gains in Tourism Sector as SET Index Rebounds 1.41%

The share price of Central Plaza Hotel Public Company Limited (SET: CENTEL) and The Erawan Group Public Company Limited (SET: ERW) made a leap in the afternoon session after a series of plummets in recent days.

CENTEL and ERW are among tourism stocks that share prices were priced in the positive sentiment of Thailand’s reopening prior to the actual reopening on November 1, 2021. CENTEL dropped 14.58% in November and ERW was 14.11% lower last month.

However, both stocks bounced back on Wednesday as the SET Index rebounded 22.12 points or 1.41% after closing lower in the previous four sessions, mainly due to concerns of the new coronavirus’ omicron variant that could have higher transmission rate than the delta variant. Moderna’s CEO also predicted that existing vaccines will be less effective against this new variant. Still, the doctor who first discovered the omicron variant in South Africa noted that the patients have only mild symptoms like fever.

The share price of CENTEL rose 6.50% to close at ฿32.75/share and ERW increased 4.29% to close at ฿2.92/share. Meanwhile, S Hotels and Resorts Public Company Limited (SET: SHR) increased 3.31%, Minor International Public Company Limited (SET: MINT) closed 2.75% higher and Dusit Thani Public Company Limited (SET: DUSIT) rose 1.02%. The share prices of SHR, MINT and DUSIT were down 16.20%, 16.79% and 1%, respectively in November. The whole sector rose 3.87% on December 1, 2021.