Thai Stock Market Roundup on January 7, 2021

A short summary to inform investors of what had happened in the Thai stock market on January 7, 2021.

SET Index closed at 1,513.78 points, increased 21.42 points or 1.44% with a trading value of 121 billion baht. The analyst stated that the Thai stock market closed higher, following positive sentiment in global markets in the anticipation of more and faster stimulus plans in the U.S. after the U.S. Congress confirmed Biden’s win. Meanwhile, an increase in oil prices also supported energy sector as well.

In addition, the analyst recommended investors to monitor the upcoming financial statement of the banking sector, which is expected to be released next week, as well as the development of coronavirus cases in Thailand, even though the market already priced-in this factor. The analyst stated that the market could rebase in tomorrow’s session, especially in big-cap stocks, giving a support level at 1,500 points and a resistance level at 1,520 points.

– Local Institutions and Proprietary Trading continued to buoy Thai stock market non-stop as SET Index rebounded from the negative session to close 21pts higher.

Pro-Trump supporters stormed the U.S. Capitol as Congress confirmed Biden’s win.

Japan to impose a one-month state of emergency starting from Jan 8, 2021.

– KGI raised BBL, TMB and KKP as short-term top picks, despite “Neutral” view on the banking sector.

– The Investment Analysts Association (IAA) picked ADVANC, BDMS, CPALL, KBANK, PTTGC as top picks in 2021, while forecasting SET Index to reach 1,559 points in response to the fund flow and positive sentiment from the coronavirus vaccine. The association expected the resurgence of Covid-19 will affect the Thai stock market in a short-term period and investors have already priced in the factors.

TU and IP jointly formed “Interpharma-ZEAvita” to produce and distribute supplement products.

TU implemented Covid-19 tests for all employees as factories remained open at full capacity.

BGRIM to advance in IPS business for commercial buildings, community malls and mix-used projects, while expecting to implement LNG imports for future integration.

– Stocks in Focus on January 7, 2021: KKP (Krungsri Securities TP at ฿58.50/share) and TMB (Maybank Kim Eng TP at ฿1.40/share).

Top 10 Most Impact Shares on January 7, 2021