Thai Stock Market Roundup on April 22, 2021

A short summary to inform investors of significant developments in the Thai stock market on April 22, 2021.

SET Index closed at 1,568.21 points, decreased 11.80 points or 0.75% with a trading value of 93.3 billion baht. The analyst stated that the Thai stock market closed lower without a positive driver, while the coronavirus cases remained high and the death toll escalated quickly. Moreover, some speculated that the GDP outlook might be revised down due to the prolonged pandemic outbreak in Thailand.

In the meantime, the stock market was pressured by a selloff in bag-cap stocks, especially the energy sector, due to concerns over oil demand as the third-largest consumer such as India are facing a serious pandemic outbreak, coupled with an increase in U.S. oil inventories.

The analyst expected SET Index to move shallowly in tomorrow’s session, giving a support level at 1,550 points and a resistance level at 1,580-1,585 points.

– A 4.1 billion baht pullback from Local Institutions and Foreign Investors plunged SET Index by nearly 12 points.

ASPS targeted SET Index at 1,670 points, seeing a limited impact on the market amid Covid’s 3rd wave.

CGH made a significant move into the cryptocurrency industry.

– The Thai Chamber of Commerce revised down Thai GDP growth in 2021 to 1.6% due to the new Covid-19 outbreak.

WHAUP continued its solar energy expansion with the signing of a 2.32MW-solar farm project.

TU launched a high-grade tuna oil refined “UniQTM DHA” product range.

– Analysts raised KBANK’s target price as high as ฿182 after impressive 1Q results.

EA set up a new subsidiary to further its battery and EV business.

– Negative sentiment from BFIT’s 1Q earnings dragged SAWAD down 5.38%.

– Stocks in Focus on April 22, 2021: KTB (Trinity Securities TP at ฿14.00/share) and PTG (KGI Securities TP at ฿27.00/share).

 

Top 10 Most Impact Shares on April 22, 2021

 

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