Daily Strategy, SCBS Expects a Recovery, Recommending “Selective Buy” on 4 Themes

SCBS' Ekpawin Suntarapichard expected SET Index to recover this week, recommending WICE, TNP, TU, COM7, CRC, ERW, ZEN, M.

Stocks in Asia traded mostly lower with Hang Seng Index leading the plummet by nearly 2, following the report of Beijing to break up Ant Group’s Alipay and create a separate loans app in a joint venture with the Chinese government.


Thailand’s SET Index opened at 1,637.12 points, increased 1.77 points or 0.11%.

As of 10:03 local time in Thailand, Nikkei slipped 0.29%, Shanghai Composite increased 0.05%, Hang Seng Index fell 1.77%, ASX 200 rose 0.33% and IDX Composite dropped 0.45%.


Financial Times reported last night that the Chinese government wants to break up Alipay, a payment platform run by Jack Ma’s Any Group, by splitting Ant’s back end of its two lending businesses, Huabei and Jiebei, into two new apps as a joint venture between Ant and the Chinese government.

The share price of Alibaba Group Holding Limited fell 3.81% in the morning session on Monday, while Tencent Holdings Ltd. also dropped 2.78%.


Mr. Ekpawin Suntarapichard, investment strategists of the Siam Commercial Bank Securities (SCBS), through “Kaohoon Jor Talad Program” on September 13, 2021, stated that the Thai stock market could see a recovery this week after a slow down in the previous week with a positive outlook as inventors look over the ECB’s resolution.

Meanwhile, the Covid-19 situation in Thailand is starting to slow down, which could post as a positive sentiment to investors for further lockdown easing next month.

Mr. Suntarapichard recommended “Selective Buy” this week with a support level of 1,620-1,614 points and a resistance level of 1,660 and possibly 1,670 points.

For the investment strategy, Mr. Suntarapichard recommended stocks with potential higher 3Q results in mid and small-cap stocks such as WICE and TNP. Meanwhile, TU could be a good pickup in response to baht depreciation, positive exports growth and the listing of its subsidiary. COM7 is also a good pick for speculation of iPhone 13, while CRC, ERW, ZEN and M are still below pre-Covid level for the reopening theme.

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