Thai Stock Market Roundup on May 13, 2021

– SET Index closed at 1,548.13 points, decreased 23.72 points or 1.51% with a trading value of 143 billion baht. The analyst stated that the Thai stock market traded lower in the same direction with the regional and European markets in concerns over a faster-than-expected rate hike by the U.S. Federal Reserve and a slower QE after CPI in April beat expectation and reached 4.2%.

Richard Harris Clarida, Vice Chairman of the U.S. Fed, stated that the lower-than-expected payroll and higher inflation rate in April, adding that the Fed will monitor the inflation rate in a long-term and act if they start to move upward.

As for the Thai stock market, the analyst stated that the panic sell occurred after the stock moved lower than the support level at 1,550 points. The selloff was partly due to the block trade that acts automatically upon falling index.

Moreover, the rising coronavirus cases and the MSCI rebalance might be the reason for an adjustment in Foreign Investors’ portfolio.

In addition, the analyst advised investors to monitor the Covid-19 situation in Thailand, giving a support level at 1,520-1,500 points and a resistance level at 1,550 points.

– Foreign Investors and Proprietary trading combined a 4.2 billion baht of net sell to plunge SET Index by 23.7pts.

– AP showed strong low-rise performance behind Q1 revenues of over 10,770 million baht and 33,700 million baht worth of total backlog.

– IVL continued its commitment to sustainability by being the first Thailand-based company to invest in HSBC’s recently introduced Green Deposit to support Environmental, Social and Governance (ESG) projects that benefit the environment.

– KTBST expected that RT will return to profit in 2Q21, while outlook for the second half of the year remains favorable.

– MINT reported a net loss in 1Q21, but pointed out to an uptick in core EBITDA, while promising long-term outlook and expecting a recovery in 2H21.

– DBSVS reiterated its “BUY” rating on TU and raised the target price to ฿20.00/share.

– After a long drought in TV programs business, WORK finally made an outstanding performance in 1Q21 with an uptick in revenue of TV programs.

– Stocks in Focus on May 13, 2021: NER (Maybank Kim Eng TP at ฿7.70/share) and COM7 (KGI Securities TP at ฿82.00/share).