Thai Stock Market Roundup on August 23, 2021

A brief summary of major changes and significant developments in the Thai stock market on August 23, 2021.

SET Index closed at 1,582.07 points, increased, 28.89 points or 1.86% with a trading value of 114 billion baht. The analyst stated that the Thai stock market performed better than expected in response to lower Covid-19 infections and the buying pressure on the financial sector after the support measures from the Bank of Thailand.

The analyst stated that the Thai stock market made a solid stance after being able to close higher than the resistance level of 1,580 points.

In addition, the analyst recommended investors to monitor the Fed’s symposium at Jackson Hole later this week to see the timeline of QE tapering, while giving a support level for SET Index in tomorrow’s session at 1,560 points and a resistance level at 1,590-1,600 points.

– Local Institutions and Foreign Investors combined 7.9 billion baht of net buy to push SET Index to test the resistance level at 1,600 points.

– The Thai parliament passed the nation’s annual budget of 3.1 trillion baht for the fiscal year starting October 1 this year. The budget saw cuts in education, defense and the finance ministry as tax revenue comes under pressure from weakening economic outlook. The upcoming fiscal year’s budget is 5.8% lower than the budget of the ongoing fiscal year which sums at 3.29 trillion baht.

Thailand’s exports are upbeat for three consecutive months, in line with the ongoing global economic recovery.

– The share price of Thai banking stocks surged in response to the new measures from BOT that will help lower the burden.

– The acquisition of 29.40% marks a strategic partnership to expand WHA‘s logistics portfolio and offer tech-driven services to support the fast-growing sector.

– A surge in GUNKUL was due to purchasing pressure before the ex-dividend date of August 25, 2021, for its 0.06 baht per share interim dividend payout.

TMT is predicted to sustain its growth pace in 3Q21. The analyst maintained a “TRADING BUY” rating with a target price of 13 baht.

BOT’s relaxed policy on personal loans and credit card ceilings directly benefit AEONTS and KTC’s core business.

HANA dropped more than 5% as the analyst forecast sales could drop QoQ in 3Q21 due to quarantine measures on the company’s workers.

STGT fell 3.25% at the closing of the morning session on the ex-dividend date for its Bt1.25 per share of an interim dividend payment.

NWR signed a construction contract worth 978 million baht for the construction of the Southern Chachoengsao Bypass.

– Stocks in Focus on August 23, 2021: CK (Asia Wealth Securities TP at ฿29.25/share) and CHG (Asia Wealth Securities TP at ฿4.40/share).


Top 10 Most Impact Shares on August 23, 2021

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