Thai Stock Market Roundup on January 11, 2021

A short summary to inform investors of what had happened in the Thai stock market on January 11, 2021.

SET Index closed at 1,536.49 points, increased 0.05 points or nearly flat with a trading value of 93.8 billion baht. The analyst stated that the Thai stock market opened the session with a jump, but pulled back in the afternoon session to close flat due to the movement of KTC and DELTA that fluctuated the market. Meanwhile, the market also faced selling pressure from the banking sector that was on a gaining streak last week. The baht depreciation also concerned investors on a slowdown of fund flow as well. However, the buying pressure in electronics and agricultural stocks to support the market.

In addition, the analyst expected SET Index to continue fluctuating in tomorrow’s session after a rally in the past week, giving a support level at 1,520-1,500 points and a resistance level at 1,540-1,550 points.

– Local Institutions, Proprietary Trading and Foreign Investors combined a 2.7 billion baht selloff to diminish SET’s gain and close flat.

– Global Covid-19 cases topped 90 million with nearly 2 million deaths.

EKH expected to earn more revenue from Covid-19 testing for its 4Q20 financial statement.

SET rolls out 3-year strategic plan, gearing towards the ‘Next Normal’ with more innovations for positive impacts on society and the environment.

SABUY invested ฿33Mn to acquire additional stake of “Vending Plus” to hold 86.12% in total.

PTT invested ฿30Mn in establishing “Mekha Technology” to support information system service.

CPF issued five-series of debentures with an interest rate between 1.75-3.80% and a rating of A+.

– KGI upgraded the energy sector’s outlook to “overweight,” expecting high earnings over rising oil prices.

– FSS emphasized JR’s strong backlog to support 4Q20 earnings, giving a BUY recommendation with a target price at Bt8.80 per share.

STA jumped 7.62%, while the analyst gave a “BUY” recommendation with a target price at ฿32 in the anticipation of a new high of net profit in 10 years.

EGCO and IEAT entered into an agreement to jointly develop EGCO Rayong Industrial Estate.

ASIAN increased 17.31% to Bt12.2 as analysts saw no impact on the animal feed business amid Covid-19 outbreak.

NER asserted that the increase tariff of vehicle tires in the U.S. will not affect the business due to the low tariff rate for Thailand, coupled with high demand.

KTC closed at Bt79 in a wild session as the analyst thought of an “unusual” movement.

– Stocks in Focus on January 11, 2021: HANA (Maybank Kim Eng TP at ฿55.00/share) and COM7 (KTB Securities TP at ฿45.00/share).

 

Top 10 Most Impact Shares on January 11, 2021

 

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