‘Movers & Shakers’ on the SET for August 25

Wednesday is likely to be slow day in the market as there are little economic drivers to continue the rise of the SET Index.

The SET Index rose 4.91 points yesterday to end the day at 1,586.98 points on active trade of 100.71 billion baht.

Foreign investors were net buyers for a second consecutive day, with purchases worth some 1.36 billion baht, although month-to-date, they have been net sellers to the tune of 9.79 billion baht. The same is true year-to-date with foreign investors net selling over 103.07 billion baht of stocks.

If not for the retail investors net purchases of 121 billion baht, SET Index would have fallen this year. 

For the year, the SET Index has fallen 0.3% versus a 19% rise in America’s S&P 500 Index, 17% rise in India’s NIFTY Index, and 16% rise in Taiwan’s TWSE Index. 

Regionally, the bourses in Indonesia, Hong Kong and Philippines have performed worse than the SET. The SET’s performance is also better than MSCI Asia X Japan index which is down 3.3% this year.

Covid numbers are slightly up today which means the SET Index may see profit taking. 

Krungsri Economic Intelligence Unit said that the Covid-19 pandemic is hurting Thailand economy much more than earlier assumptions. It recommends the government to add an additional 700 billion baht into the economy under six categories.

  • Direct financial aid to Covid infected people or those who are to be quarantined – 160 billion baht 
  • New jobs creation program – 285 billion baht
  • Direct payments to ailing businesses/SMEs – 20 billion baht
  • To reduce cost of goods used for basic living – 200 billion baht 
  • Reduce business overhead expenses – 43 billion baht 
  • Financial aid to households  – 132 billion baht 

The government is contemplating allowing dine in at the restaurant on assumption that Covid peak has been reached last week.

Government has approved keeping VAT rates at 7% for another 2 years. VAT was originally kept at 10% when VAT law was drafted but has remained at 7% since lowered in 1998 after the financial crisis.

Here are some of the key stocks to look out for today

  • PTT Plc (PTT) – The stock rose 2.78% yesterday as both foreign and local funds returned to buy more stocks in Thailand on hopes of recovery. 
  • Thonburi Hospital Group Plc (THG) – The hospital group’s CEO Boon Vanasin, has come out again to say that his supposed Pfizer importing – pushing Thai FDA to approve the drug – usually takes 30-days to approve.

Here are the stocks that are going to go ex-Dividend today (which could see the shares dipping a bit).

  • Birla Carbon (Thailand) Plc (BCT)    Dividend payment of 0.80 baht
  • SCG Packaging Plc (SCGP)               Dividend payment of 0.25 baht
  • Soboon Advanced Technology (SAT) Dividend payment of 0.40 baht
  • Gunkul Engineering Plc (GUNKUL) Dividend payment of 0.06 baht a share

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