Nomura Recommends Dividend Plays amid Covid-19 Fears, Top Pick: ADVANC-TISCO-HMPRO
Capital Nomura said the plummet in Thai stock market yesterday was due to concerns that the government will be unable to carry out the vaccine campaign as planned, thus recommending dividend plays.
Capital Nomura said the plummet in Thai stock market yesterday was due to concerns that the government will be unable to carry out the vaccine campaign as planned, thus recommending dividend plays.
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The Thai market was in a panic yesterday (June 24) due to the risk of postponing the country’s October reopening as a result of the high number of daily confirmed Covid-19 infections and delayed vaccine distribution plans. The analyst is concerned that if the Covid-19 continues, the earnings of listed businesses would fall. It recommends investing in dividend stocks like ADVANC, as well as stocks with strong 2Q21 profits such as TISCO, HMPRO, and exporting stocks like HANA, KCE.
Capital Nomura Securities (CNS) said that the plummet in Thai stock market on June 24, 2021, was due to concerns that the government will be unable to carry out the vaccine campaign as planned and it could lead to another lockdown in the Bangkok area. Moreover, the daily Covid-19 cases still remain high. Besides this, the market was under political pressure yesterday as anti-government protesters rallied to commemorate the Siamese 1932 revolution and call for Prayut’s resignation. CNS has given a resistance level at 1,550 points.
Therefore, CNS recommends dividend plays like Advanced Info Service Public Company Limited (ADVANC) and exporting stocks such as Hana Microelectronics Public Company Limited (HANA) and KCE Electronics Public Company Limited (KCE). Also recommending stocks with 2Q21 earnings outlook like Tisco Financial Group Public Company Limited (TISCO) and Home Product Center Public Company Limited (HMPRO).