Thai Stock Market Roundup on October 4, 2021
A brief summary of major changes and significant developments in the Thai stock market on October 4, 2021.
– SET Index closed at 1,614.48 points, increased 9.31 points or 0.58% with a trading value of 78.6 billion baht. The analyst stated that the Thai stock market edged higher as Covid-19 situation started to relax with a lower infection rate, which led to a surge in reopening stocks, while the flood crisis was not severe.
The analyst recommended investors to monitor the OPEC+ meeting later today, expecting tomorrow’s session to move within the 1,600-1,625 range.
– Local Institutions and Individuals combined a 1.3 billion baht of net buy to buoy SET Index by 9 points.
– Trading of Evergrande and its property services unit suspended in the Hong Kong Stock Exchange amid news on major restructuring in a desperate move to raise cash.
– BGRIM enters into the Share Purchase Agreement with visaVento Holding AG for acquiring 90% stake in Visa Max Solar Sp.z. for development of ZEL1-14.1 MW Wind Project in Poland.
– Credit Suisse sees limited impact on Thai energy stocks from surging LNG prices, pointing out PTTEP to benefit the most from rising crude prices.
– Phillip Securities has given a “BUY” recommendation on IMH with a target price of 18.90 baht, anticipating profit to reach a new record of 170 million baht in 3Q, and to maintain that pace in 4Q.
– Rather than waiting for gradual economic recovery, SCB initiated its first move on unlocking capabilities through digitalization. KBANK and TTB may follow.
– CRC, COM7, KBANK and BEM are among top pick stocks that are selected by analysts to benefit from country reopening and new fiscal stimulus measures starting in 4Q21.
– The baht lacks fundamental support factors with economists warning the pair USD/THB might slip more this year.
– AP Thailand, on a mission to EMPOWER LIVING, moves on as planned to revive the condo market following positive signs in industry.
– Stocks in Focus on October 4, 2021: NER (Maybank Kim Eng Securities TP at ฿9.00/share) and WHAUP (KGI Securities TP at ฿5.40/share).
Top 10 Most Impact Shares on October 4, 2021
