SET Jumps 14pts, Maybank Recommends Focusing on Stocks with All-Time High Potential in 2Q
SET Index rose 14pts in the morning session after a long decline. Maybank recommended focusing on stocks expecting to have an all-time high in 2Q21.
Thai stock market rose 14.35 points on May 18, 2021, to 1,563.51 points after a series of declines in the past few days, while regional markets also edged higher this morning.
As of 10:07 local time in Thailand, SET Index increased 14.35 points or 0.93% to 1,563.51 points with a trading value of 9.6 billion baht.
Nikkei soared 2.08%, SSEC gained 0.11%, HSI rose 1.21%, ASX 200 increased 0.46% and Kospi advanced 1.12%.
Maybank Kim Eng expected SET Index to rebound today with the support level at 1,540 points and resistance level at 1,570 points and advised investors to focus on stocks expected to make an all time high in 2Q21 following 1Q21. With the 1Q21 earnings results report completed, Maybank found that there are many companies that achieved 1Q21 net profit hitting new quarterly highs, encouraging the stock price to move up.
Maybank believed that many companies have continued good earnings prospects and have a chance to hit new highs in 2Q21 after hitting the 1Q21 high. This is a positive sentiment to share prices.
The sectors that Maybank expected to have continued profitability for an all time high such as Logistics (WICE, SONIC), Finance (ASK, MTC), Retail (SINGER), Agriculture and Food Industry (XO).