Thai Stock Market Roundup on September 8, 2021

A brief summary of major changes and significant developments in the Thai stock market on September 8, 2021.

SET Index closed at 1,640.45 points, increased 4.00 points or 0.24% with a trading value of 89.9 billion baht. The analyst stated that the volatility in the Thai stock market was due to a lack of positive drivers after a spike by more than 100 index points, while being pressured by weakened Thai baht.

The analyst recommended investors to keep an eye on the ECB meeting tomorrow with a possibility of lowering QE, while expecting an appreciation in dollars and U.S. bond yield.

In addition, the analyst expected SET Index to move sideways ahead of the ECB meeting, giving a support level at 1,625 points and a resistance level at 1,650 points.

– Foreign Investors returned with a 7.5 billion baht of net buy to buoy SET Index higher by 4pts.

El Salvador‘s historic move on adopting bitcoin as legal tender on Tuesday hit a bump of angry protest and the glitches in a mobile application specifically designed for Salvadorans as Bitcoin wallets.

– Stocks related to vegetable and palm oil made a tremendous gain in August after the report of growing index prices from FAO.

– KTBST Securities forecasts the SET Index will break over 1,650 in the next two to three weeks, with a possible upside to 1,700, recommending SINGER, GULF, LEO, AS and ASK, which have rooms for more gain throughout 2023.

LHFG reported a successful acquisition of a 10.99% shareholding in CTBC Bank with an investment of 4.2 billion baht.

ASIAN and TU rallied on Wednesday amid weakened Thai baht.

TEAMG‘s share price increased by more than 12% over the announcement that SCC had acquired a 9.90% investment, through its subsidiary, to become the company’s major shareholder.

IP and RBF entered into an MOU regarding the research, development, and expand the production of hemp and cannabis products as permitted under applicable law.

– Stocks in Focus on September 8, 2021: CPNREIT (Maybank Kim Eng Securities TP at ฿24.00/share) and SMD (KGI Securities TP at ฿19.00/share).


Top 10 Most Impact Shares on September 8, 2021

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