Thai Stock Market Roundup on December 22, 2020

– SET Index closed at 1,424.39 points, increased 22.61 points or 1.61% with a trading value of 87.8 billion baht. The analyst stated that the Thai stock market made a technical rebound from yesterday’s plummet due to the fund inflows over 2,000 million baht from foreign investors buoying the market, while major stock markets in Asia Pacific all closed lower due to concerns of the new Covid variant in the UK.

The analyst expected SET Index to move in sideways trends and rebasing, advising investors to monitor the MPC’s meeting tomorrow in which the market expected the policy makers to keep the rate at 0.25%.

In addition, the analyst set a support level for tomorrow session at 1,410 points and a resistance level at 1,430-1,440 points.

– Foreign Investors waived local transmission of Covid-19 concerns, buoying SET Index by 22pts with a net buy of 2,014 million baht.

– US House approved the historical $900Bn Covid-19 relief.

– Oil’s rally slowed down as concerns of the new Covid-19 variant plunged travel demand.

– EA disposed all “TF Tech”’s shares to book ฿20Mn in accordance of restructuring plans.

– BCP divested “LAC” to record a capital gain of $100Mn into retained earnings.

– CK signed a contract for maintenance of Si Rat-Udon Ratthaya Expressway with a total value of 1,000 million baht.

– NOBLE expected to launch 11 projects worth ฿45Bn in 2021, targeting top-5 developers in 3 years.

– XO jumped 3%, targeting 25% profit growth in 2021 in response to strong demand for sauces.

– PTTEP conquered 3 offshores blocks to solidify position in the UAE! DBSVS recommended “BUY” at a target price of ฿109.00/share.

– IND closed its first trading day with a gain of 171% to ฿2.98/share.

Stocks in Focus on December 22, 2020: JMT (Maybank Kim Eng TP at ฿35.50/share) and LH (Krungsri Securities TP at ฿9.10/share).

 

Top 10 Most Impact Shares on December 22, 2020