Kaohoon’s Top News on December 21, 2020

Top news from Kaohoon Turakij Newspaper to start the trading day on December 21, 2020.


– The analyst expected a decline in the Thai stock market due to concerns of the new coronavirus resurgence in Thailand to affect retail, cold storage and tourism stocks. The analyst gave a support level at 1,450 points and the next support level would be 1,430 points. Meanwhile, the Thai stock market has been overbought lately and the market is ready to pull back any time.

THCOM joined hands with PTTEP to produce a “Smart Drone” to assist Thai agriculture in farming. The drone is expected to be available in the first quarter of 2021 with a starting price at 198,000 baht.

– The baht appreciation could support earnings of power-generation stocks such as GULF, BGRIM, GPSC, RATCH, WHAUP, GUNKUL, as well as oil-related stocks such as PTT, PTTGC and TOP. Meanwhile, those affected by the appreciation are in the electronics and foods sectors due to higher export volume.

– The analyst gave a “BUY” recommendation on PTT in anticipation of the allocation of OR’s IPO, which will post an XB sign on January 4, 2021, at a ratio of 95 existing shares of PTT to 1 new ordinary share of OR. Moreover, PTT is expecting better earnings in 4Q20 in response to higher stock gain from the increasing oil prices.

CPF and CPALL officially announced the completion of “Tesco” deal worth 338 billion baht as the Office of Trade Competition Commission approved the acquisition. Meanwhile, the acquisition is expected to increase CP Group’s distribution channels and lower transportation costs. Analysts recommended “BUY” at a target price of ฿41.00/share.

 

Back to top button