Thai Stock Market Roundup on March 24, 2021

– SET Index closed at 1,570.83 points, increased 6.58 points or 0.42% with a trading value of 85.4 billion baht. The analyst stated that the Thai stock market outperformed regional markets in today’s session after the maintaining of policy rate by the Monetary Policy Committee (MPC), coupled with more Covid-aid measures introduced by the cabinet.

The MPC revised down Thai economic growth in 2021 from 3.2% to 3.0% in which the analyst stated that it was still at an acceptable level.

The analyst recommended investors to monitor the development of coronavirus cases, especially in Europe after many countries reimposed the lockdown with an increasing number of cases. In addition, the analyst expected SET Index to move within the support level of 1,560-1,550 points and a resistance level of 1,575-1,580 points.

– Individuals led Foreign Investors in net buy to buoy SET Index by 6.5pts with a total net buy of 2.2 billion baht.

– MPC voted unanimously to maintain policy rate at 0.50% and cut Thailand’s growth to 3.0%.

– S expanded its business to industrial estate by acquiring a plot of land and three power plants with a total capacity over 400MW.

– KWM signed an MOU to manufacture marijuana-extraction machines for medical purposes.

– PSTC acquired “BGT Logistics” to expand and strengthen LPG-LNG distribution.

– GULF and Sarath denied rumors of investing in 7UP, stating that the company and the CEO had no intention to invest in such a company.

– PTG launched cannabis-infused F&B menus through PunThai Coffee and Coffee World.

– RT confirmed 20% growth in 2021 revenue. The analyst recommended “BUY” with a target price at ฿3.00/share.

– AWS expected BBL and KBANK to benefit from the ฿350Bn SMEs aid measures.

– JKN reintroduced CNBC to be broadcasted through NEW18 channel.

– SCN jumped 14%, ensuring no impact on Minbu Solar Farm operation despite Myanmar coup.

– TU climbed 2.82% as the analyst saw innovative food to enhance the long-term growth, while giving a BUY recommendation at a target price of ฿16.50/share.

– ASPS recommended BBL–CENTEL–MAJOR as stocks benefiting from economic recovery.

– NUSA established a JV “CSR Nusa” to advance in research and produce hemp products.

– Stocks in Focus on March 24, 2021: TU (Maybank Kim Eng TP at ฿16.50/share) and MTC (Finansia Syrus Securities TP at ฿82.00/share).

 

Top 10 Most Impact Shares on March 24, 2021