Thai Stock Market Roundup on July 8, 2021

A short summary to inform investors of significant developments in the Thai stock market on July 8, 2021.

SET Index closed at 1,543.67 points, decreased 32.93 points or 2.09% with a trading value of 111 billion baht. The analyst stated that the main reasons for the plummet in the Thai stock market today were due to the decline in oil prices and concerns over rising Covid-19 cases in Thailand that could possibly lead to a full lockdown, resulting in a selloff to lower the risk from uncertainties.

Meanwhile, the European stocks and Dow Jones Futures also traded lower on concerns over the U.S. Fed lowering QE, even though the lowering QE would not happen in a fast pace.

The analyst stated that if new Covid-19 cases in Thailand continue to spike, the market could plunge further, giving a support level at 1,530 points and resistance level at 1,560 points.

– Local Institutions and Proprietary Trading combined a 2.8 billion baht to plunge SET Index by 33 points.

Global COVID-19 death toll amounted to 4,000,269 on Wednesday with the U.S. as the most fatality recorded in the world.

Japan is expected to place Tokyo under the fourth state of emergency on July 12, which will last until Aug 22 in an effort to curb a recent surge in COVID-19 infections.

– The Joint Standing Committee on Commerce, Industry, and Banking reduced Thailand’s economic growth forecast to 0.0-1.5% from 0.5-2.0%.

Thai banking stocks tumbled today as a result of negative sentiment fueled by fears that Thailand may face a lockdown if the Covid-19 outbreak situation does not improve.

Hospital stocks edged higher in response to the deteriorating situation of the Covid-19 outbreak. Meanwhile, Domestic-Play stocks edged lower on July 8, 2021, amid rising Covid-19 cases in the country and concerns over full lockdown.

– Stocks in Focus on July 8, 2021: ASIAN (KTBST Securities TP at ฿19.00/share) and ASK (Maybank Kim Eng Securities TP at ฿55.00/share).


Top 10 Most Impact Shares on July 8, 2021

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