Thai Stock Market Roundup on June 2, 2021
A short summary to inform investors of significant developments in the Thai stock market on June 2, 2021.
A short summary to inform investors of significant developments in the Thai stock market on June 2, 2021.
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– SET Index closed at 1,617.55 points, decreased 1.04 points or 0.06% with a trading value of 101 billion baht. The analyst stated that the Thai stock market slowed down after a huge gain in yesterday’s session.
The momentum in the Thai stock market remained positive, but the plummet was mainly due to the pressure from the banking sector, led by KBANK from the delist of MSCI Global Standard Indexes.
In the meantime, the market remained positive in anticipation of vaccine rollout that could create more momentum if the distribution continued as planned.
The Thai stock market will be closed tomorrow on a holiday, the analyst expected SET Index to move sideways on Friday with a support level at 1,600 points and a resistance level at 1,630 points.
– Foreign Investors withdrew 1.3 billion baht from the Thai market, causing the SET Index to close slightly lower on Wednesday.
– WHO validates Sinovac COVID-19 vaccine for emergency use with 51% prevention of symptomatic disease and 100% prevention of severe Covid-19 and hospitalization.
– OPEC and its allies, known as OPEC+, in the meeting on June 1, 2021, agreed to ramp up the oil production within its group by 2.1 million bpd as oil prices rebounded amid a recovery in demand.
– AstraZeneca announced the official launch of its supply chain in Thailand, with the first doses of locally produced COVID-19 vaccine ready to be gradually rolled out.
– Maybank has given a “BUY” recommendation on EPG with a target price of 13.50 baht per share, emphasizing a strong outlook for 2021-22, owing to the three core businesses – AeroFlex, AeroKlas and EPP.
– CNS saw no impact on KBANK’s fundamentals after the delist from MSCI Global Standard, expecting an opportunity for “Accumulative Buy”.
– IFA gave a green light for GULF in the INTUCH acquisition, saying that it is reasonable, as an investment enhances potential growth, consistent dividends, and is in line with the company’s future business strategy.
– The share price of NOK rose 100% after SET temporarily lifted the SP sign and posted the NC sign.
– Stocks in Focus on June 2, 2021: VGI (Krungsri Securities TP at ฿8.00/share) and PTTEP (Maybank Kim Eng TP at ฿148.00/share).
Top 10 Most Impact Shares on June 2, 2021
