Broking Stocks Edge Higher as Investor Speculate Robust 1Q NP-Daily Market Turnover Rises

Broking Stocks Edge Higher as Investor Speculate Robust 1Q NP-Daily Market Turnover Rises

Broking stocks edged higher on Friday, April 30, 2021 as investors speculate on stock prices in anticipation of forthcoming earnings announcements. 

 

In the closing morning session, the share price of Asia Plus Group Holdings Public Company Limited (ASP) rose ฿0.48/share or 16.90% to ฿3.32/share, with a trading value of 392 million baht.

The share price of Finansia Syrus Securities Public Company Limited (FSS) rose ฿0.30/share or 8.72% to ฿3.74/share, with a trading value of 392 million baht.

The share price of Trinity Watthana Public Company Limited (TNITY) rose ฿0.40/share or 6.72% to ฿6.35/share, with a trading value of 19 million baht.

The share price of KGI Securities (Thailand) Public Company Limited (KGI) rose ฿0.28/share or 6.11% to ฿4.86/share, with a trading value of 333 million baht.

The share price of Country Group Holdings Public Company Limited (CGH) rose ฿0.05/share or 4.31% to ฿1.21/share, with a trading value of 36 million baht.

The share price of Globlex Holding Management Public Company Limited (GBX) rose ฿0.06/share or 4.23% to ฿1.48/share, with a trading value of 101 million baht.

The share price of AEC Securities Public Company Limited (AEC) rose ฿0.02/share or 2.70% to ฿0.76/share, with a trading value of 8 million baht.

 

SCB Securities (SCBS) raised its assumption for 2021 average daily market turnover (excluding proprietary trading) to 80 billion baht (+30% YoY) from 60 billion baht to fine-tune  with YTD daily market turnover, giving solid 2021F earnings growth at 32% for MBKET and 43% for ASP. Both are expected to report good 1Q21 earnings, driven by large daily market  turnover and recovery in the stock market. 

By SCBS estimates, MBKET and ASP will offer a good dividend yield at  >8%  for 2021. Despite a strong share rally YTD (31% for ASP and 7% for MBKET), SCBS believed valuation is still attractive given the hefty market turnover and thus upgrade ASP and MBKET to Outperform from Neutral with a hike in target price to ฿11.3 for MBKET and ฿3.6 for ASP.

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