Aviation and tourism stocks take off as Thailand set to reopen in November

Aviation stocks and other hospitality-related shares shot up on Tuesday buoyed by news that Thailand will reopen to fully vaccinated visitors with no quarantine from at least ten low-risk countries in November and with a clearer timeline for full reopening.

Asia Aviation (AAV) the operator of Thai AirAsia rose robustly by 8.39 per cent to 3.10 baht in Tuesday morning trading, while Bangkok Airways (BA) jumped by  4.27 per cent to 12.20 baht.

Airports of Thailand (AOT) also gained 4.67 per cent to 67.25 baht with the company set to gain revenue from the new announcement.

“Direct beneficiaries would be reopening plays – Aviation (AOT, AAV), Hotel (MINT, ERW, CENTEL), Shopping malls (CPN, CRC), Restaurants (AU, ZEN, M), and related businesses such as SPA, MAJOR, and HMPRO,” analysts at Krungsri Securities said in a note.

During Tuesday’s session, the Stock Exchange of Thailand (SET) index could rise up to 1,645 / 1,660 levels, bolstered by official reopening plans, Krungsri said. 

The Erawan Group (ERW) and Minor International (MINT), both hotel operators, surged by 10 per cent and 4 per cent, respectively. Amata Corporation (AMATA), the industrial estate developer, jumped by 4.6 per cent. 

For hospitals, Bumrungrad Hospital (BH) rose by 3.9 per cent to 145.50 baht due to the possibility of an increase in international patients.

The United States, the United Kingdom, China, Singapore, and Germany were among the countries mentioned as being on the safe list with more to be announced later.

Stock Price Info

Stock Fundamental

Peer Comparison

Stock Price Chart

COVID-19

Government to lock down parts of southern provinces

The government is looking to lock down some areas in the southernmost provinces as the Covid-19 outbreak situation in...

Latest article