Thai Stock Market Roundup on December 15, 2020

– SET Index closed at 1,477.21 points, increased 1.08 points or 0.07% with a trading value of 91.7 billion baht. The analyst stated that the Thai stock market faced a huge profit-taking in the past two days after a strong rally in November and early December, but could not break the resistance level at 1,500 and resulted in a halt in return.

The analyst saw that the Thai stock market remained a good opportunity to invest for risk assets due to the market relied on exports and tourism, which made the market underperform compared to its peer as the vaccine for coronavirus is not widely used as of now. However, once the vaccine is widely available and the demand returns, the Thai stock market will outperform its peers.

In addition, the analyst reiterated that the Thai stock market has a good momentum and should be able to surpass its resistance level at 1,500 points, giving a support level for tomorrow’s session at 1,455 points and a resistance level at 1,500 points.

– A combined 1.4 billion baht of net buy from Foreign Investors and 2.7 billion baht of net buy from Individuals warded off Local Institutions’ 3.7 billion baht selloff, and buoyed SET Index to close slightly higher.

– Joe Biden secured the White House’s seat after the electoral college cemented his win over Donald Trump.

– England found a new mutated coronavirus that could cause the vaccine to no longer work.

– U announced the disposal of 39 assets with a total value of ฿3.8Bn to boost its cash flow and liquidity.

– The analyst expected SINGER and JMT to reach a new high in 4Q as the NPL and car title loan portfolio expanded.

– RT projected a 10% growth in 2021 with 4.26 billion baht worth of backlog on hands.

– Maybank raised STGT’s target price to ฿96.50 on solid profit momentum with a good dividend payment.

– Stocks in Focus on December 15, 2020: BEC (KTB Securities TP at ฿8.70/share) and SCC (Maybank Kim Eng TP at ฿430.00/share).

 

Top 10 Most Impact Shares on December 15, 2020