Thai Stock Market Roundup on 7 December 2021

– SET Index closed at 1,609.28 points, increased 21.09 points or 1.33% with a trading value of 74.9 billion baht. The analyst stated that the Thai stock market moved in line with global markets, closing in a positive territory as concerns over the Covid-19 variant eased, resulting in reopening stocks pushing the market higher despite finding the first case of omicron variant in Thailand, seeing the symptoms are mild.

The rising oil prices also buoyed the market, coupled with buying pressure in BAY in the afternoon in response to the report of acquiring Citi Group’s Thai unit.

The analyst expected the Thai stock market tomorrow will have limited upside after a huge surge today, giving a support level at 1,600 points and a resistance level at 1,615 points.

– Local Institutions made a 2,949 million baht of net buy, pushing SET Index by 21 points while Individuals took profit for more than 3,000 million baht.

– British drugmaker GSK on Tuesday said its drug works against all mutations of the omicron variant.

– Kaisa Group working on a coupon deferral plan while Evergrande actively engaged in a restructuring plan.

– Chinese authorities are reportedly extending support to the Chinese real estate sector as the outlook for the following year looks bleak.

– Citigroup reportedly chose Bank of Ayudhya as its preferred bidder of the group’s assets in Thailand.

– The share price of BA, AAV and AOT closed higher as concerns over the coronavirus omicron variant subsided.

– Analysts gave “BUY” recommendations on IVL, seeing strong performance in 4Q21-2022 on solid demand.

– Stocks in Focus on December 7, 2021: KBANK (Maybank Securities TP at ฿170/share) and SCGP (Maybank Securities TP at ฿75.00/share).

 

Top 10 Most Impact Shares on December 7, 2021