‘Movers & Shakers’ on the SET for September 8

Thailand’s stock market dipped slightly at the end of trading on Tuesday although trading value remained high at around 102 billion baht.

The SET Index ended the day yesterday at 1,636.45 points down 11.92 points.

The market was dominated by retail investors who were net buyers (+1.91 billion baht) while foreign investors were net sellers (-868 million baht) and local institutional investors were net sellers (-1.14 billion baht).

Issues to Understand

  • A high level panel met to discuss raising the public debt to GDP ceiling to 60% with an immediate effect which will allow the government to borrow more to meet pandemic stress. The latest data showed a ratio of 45%.

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

  • Sarath Ratanavadi, the new director of INTUCH is fast becoming a rising billionaire of Thailand. Share price of GULF, INTUCH, ADVANC, and THAICOM now owned by him, are rising due to his star caliber.
  • Sarath was mentioned during last week’s censure debate by an opposition MP that the billionaire has close links with prominent government decision-makers – relations that have helped his business.
  • Since GULF closed the tender offer for INTUCH on 5th August, following stocks are up.
    • GULF is up 23.5% – it owns 42.3% of INTUCH
  • INTUCH up 38% – owns 40.4% of ADAVNC
  • ADVANC up 10%
  • THAICOM up 17% despite being loss making for years
  • What does Khun Sarath have in mind to do with massive cashflow and borrowing potential of INTUCH?  This is far from over.
  • DOD Biotech Plc (DOD) is expressed interest to enter energy drinks segment from cottage plants business.
  • Speculations that interest rate for consumers may be cut further are gaining momentum to favor MTC, SPALI, TIDLOR
  • TIDLOR has cut registration fee for new truck loans to boost loans
  • SEABUY – Bualuang Securities initiates coverage with a HOLD
  • BROOK is planning to set up a $25 million OP Crypto fund to invest in Cryptos
  • Volatility in iron ore future price has spiked to highest since 2016 – could prompt selling in steel stocks
  • CPF and RATCH saw one of the highest short sales yesterday – almost 25% of traded value

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