Thai Stock Market Roundup on January 5, 2021

A short summary to inform investors of what had happened in the Thai stock market on January 5, 2021.

SET Index closed at 1,506.65 points, increased 38.41 points or 2.62% with a trading value of 115 billion baht. The analyst stated that the confidence started to pick up after the government affirmed of no full-scale lockdown, which allowed economic activities to continue driving the country. However, the index that rose above 1,500 points was not positioned firmly as the gain was due to a buying pressure in some stocks such as DELTA and power-generation stocks that drove the market.

In the meantime, the market is keeping a closer look on the increase of individual income tax, proposed by Joe Biden in which investors could switch to EM if the plan is approved.

More importantly, the analyst advised investors to keep an eye on the meeting of OPEC and  its allies to see the direction of major oil producers and their outlook.

In addition, the analyst stated that it is possible that SET Index will continue the streak, while setting a support level at 1,485-1,490 points and a resistance level at 1,510-1,515 points.

– The buying pressure from Local Institutions and Proprietary Trading worth 4.1 billion baht buoyed SET Index nearly 40 points despite a profit-taking from Individuals.

GUNKUL commenced the operation of 29.99MW “Large Scale Solar PV Project” in Malaysia.

STGT rose nearly 1% on the 1st trading day with a new par value and a policy of 50% dividend distribution from its net profit.

DEMCO expected to acquire projects from MEA to push its backlog to 3.4 billion baht.

GULF continued to rally for another 5% in anticipation of booking ฿600Mn from INTUCH’s dividend payment.

TRUE expected to issue 4 series of debentures with an interest rate of 3.30-4.60%.

TVD completed the amalgamation of five subsidiaries, expecting to change the company name to ABPO Co., Ltd. (ABPO).

BOT announced a relaxation scheme of foreign exchange regulations for non-resident companies.

– The Central Bankruptcy Court extended the submission period of THAI’s rehabilitation plans to Feb. 4.

– Maybank revised up JUBILE’s target price to Bt27.90 on strong online sales and gov’t scheme.

IP hit an all-time high at Bt14.90 before closing slightly lower. Meanwhile, the analyst recommended “BUY” at Bt18 on strong healthcare trends.

– Stocks in Focus on January 5, 2021: GPSC (Kasikorn Securities TP at ฿83.25/share) and SAWAD (Maybank Kim Eng TP at ฿70.00/share).

Top 10 Most Impact Shares on January 5, 2021