‘Movers & Shakers’ on the SET for September 7

Thailand’s stock market saw a slight dip at the start of the week although the trading value went above 78 billion baht on Monday.

The SET Index ended the day at 1,648.37 points down 1.96 points with 78.32 billion baht traded. The market was dominated by retail investors who were net buyers to the tune of 2.42 billion baht while foreign investors were net sellers (991 million baht) and local institutional investors were net sellers to some 1.96 billion baht.

Issues to Watch Out – Politics and Economy 

There are still talks about Prime Minister Prayut Chan-ocha’s tenuous position but having survived the debate, his future is more certain than it was last week. With Covid infections slowing down and public protests in Bangkok still minuscule, investors will ignore politics for the time being.

Today is also the day that China is set to report export numbers, which may have a little impact on the Thailand market. Expect some speculations on the future price of iron ore and coal.

Also today is a soft day for commodities, metals and shipping freight indices. Expect profit taking in sugar, coal, and shipping stocks

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

  • Sri Tran Agro Plc (STA) applies for a  hemp growing license – expected to start planting in 2 month, with  production by 2Q22 from a 5 rai land. RBF is the ahead of STA with hopes to produce hemp by late Dec 21 or early 22.   STA has secured two new F&B customers for new products that Rubber – STA expect 2H21 rubber price to remain high. Beware of the hype over hemp sales. Rubber business is doing well but rising over supply of gloves puts a dampener on both STA and STGT. 
  • Delta Electronics (Thailand) Plc (DELTA) – DELTA soared again on fears of chips supplies will hurt auto sales. BMW issues supply shortages alert. DELTA market capitalization is very close to market cap of PTT, the largest stock in Thailand. 
  • Be wary of a collapse in the share price
  • TQM Corporation Plc (TQM) – TQM, the largest online insurance broker, whose share price is up more than 4x since its IPO in mid-2019, is constantly trying to talk up its revenue forecast. The company benefitted from sudden rise in Covid insurance policies since the outset of Covid last year, but the pace of growth has slowed down, and TQM’s efforts to find other sources of growth are not sufficient to convince investors assign present high valuation.
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  • Bangkok Asset Management Plc (BAM) – A few brokers have upgraded the stock following upbeat outlook from the company of a recovery in earnings in the 2H. The stock has underperformed banks and property stocks on slowing property prices. It has 10 Buys and 2 Sells with target price of 21.20 baht. Definitely worth a look as momentum play on falling Covid infections 
  • Com7 Plc (COM7) – Brisk trading yesterday as investors are upbeat that reopening of malls allows COM7 to open a few pop-up stores to boost sales of its Apple phones. Speculations that govt’ may give tax incentives on purchase of work from home equipment, like it did last year, could up COM7 sales next quarter.  COM7 stock price is super expensive – trading at 2.0x Price to sales, which is more expensive than Apple, Best Buy or even Amazon. COM 7 has 10 buys rating, no sell or hold with target price Bt82
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