Thai Stock Market Roundup on December 23, 2020

– SET Index closed at 1,416.02 points, decreased 8.37 points or 0.59% with a trading value of 89.5 billion baht. The analyst stated that the Thai stock market closed lower today due to concerns of another lockdown as the coronavirus resurgence continued to spike. Meanwhile, the market was disappointed at the MPC’s decision to maintain the policy rate, but still expecting another cut on the next meeting.

In addition, the analyst stated that the movement in the Thai stock market tomorrow depends on the government’s measure implementation to curd the resurgence of the coronavirus in which the market could retreated to 1,350-1,300 points if the measure was strict.

– Local Institutions pulled back with a 1.3 billion baht selloff, coupled with Foreign Investors’ profit taking of 705 million baht to plunge SET Index by 8.3 points.

– UK economy rebounded 16% in 3Q amid the double-dip projection in 4Q.

– Thai exports contracted 3.65% in November, expecting a 4% growth in 2021.

– MPC maintained policy rate at 0.50%, estimating Thai GDP to recover 3.2% in 2021.

– KEX’s 9M profit jumped 14% to book ฿1,030mn as NPM increased and business grew.

– TRUBB cancelled the purchase agreement with “Phoenix” due to a lack of significant details in the deal.

– TOP disposed “Thaioil Marine” in line with its restructuring plans, while expecting to book ฿800Mn.

– STGT ramped up productions to become the world’s biggest rubber-glove producer by 2024.

– CHAYO jumped 9% to break an all-time high, the analyst recommended “Speculative Buy”.

–  The analyst rated HUMAN “Outperform” at TP of ฿12.5/share, expecting 2021-22 earnings growth of 36%.

– Stocks in Focus on December 23, 2020: IIG (KGI Securities TP at ฿30.00/share) and SC (Maybank Kim Eng TP at ฿3.50/share).

Top 10 Most Impact Shares on December 23, 2020