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https://www.nationthailand.com/business/30403452

SET best performer as Asian indices slide

EconMar 08. 2021

By The Nation

The Stock Exchange of Thailand (SET) Index closed at 1,543.76 on Monday, down 0.35 points or 0.02 per cent. The volume of total transactions was Bt108.47 billion with an index high of 1,562.56 and a low of 1,540.64.

In the morning session, a Krungsri Securities analyst expected the day’s index to rise to between 1,555 and 1,560 points on the US Senate’s approval of a $1.9-trillion economic relief plan, and the rising price of oil in line with economic recovery.

However, he warned investors to beware of mass sell-offs of Thai shares after the US bond yield rose over 1.5 per cent.

The 10 stocks with the highest trade value today were PTT, SAWAD, EA, OR, PTTEP, PTTGC, STA, IVL, KBANK and MTC.

Other Asian indices were on the fall:

Japan’s Nikkei Index closed at 28,743.25, down 121.07 points or 0.42 per cent.

China’s Shang Hai SE Composite Index closed at 3,421.41, down 80.57 points or 2.30 per cent, while the Shenzhen SE Component Index closed at 13,863.81, down 548.50 points or 3.81 per cent.

Hong Kong’s Hang Seng Index closed at 28,540.83, down 557.46 points or 1.92 per cent.

South Korea’s KOSPI Index closed at 2,996.11, down 30.15 points or 1.00 per cent.

Taiwan’s TAIEX closed at 15,820.11, down 35.12 points or 0.22 per cent.

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https://www.nationthailand.com/business/30403448

Listed firms tighten dividend purse strings, as Covid-19 erodes profits

EconMar 08. 2021

By The Nation

Dividends paid by companies listed on the SET50 Index (excluding OR, SCGP and BAM) in 2020 fell 35.15 per cent compared to 2019.

A total of Bt236.94 billion was paid out to shareholders for 2020, down Bt128.47 billion from Bt365.41 billion in 2019, due to Covid-19’s impact on the economy.

Listed companies that paid higher dividends were:

B Grimm Power (BGRIM): Bt0.45 per share compared to Bt0.37 in 2019;

Total Access Communication (DTAC): Bt2.12 per share compared to Bt1.61 in 2019;

Krungthai Bank (KTB): Bt0.75 per share compared to Bt0.72 in 2019;

TOA Paint (Thailand) (TOA): Bt0.53 per share compared to Bt0.50 in 2019;

Listed companies that paid the same dividend as in 2019:

Bangkok Dusit Medical Services (BDMS): Bt0.55 per share;

Bumrungrad Hospital (BH): Bt3.20 per share;

Energy Absolute (EA): Bt0.30 per share;

Electricity Generating (Egco): Bt6.50 per share;

Listed companies that paid lower dividends:

PTT: Bt1 per share compared to Bt2 in 2019;

PTT Exploration and Production (PTTEP): Bt4.25 per share compared to Bt6 in 2019;

PTT Global Chemical (PTTGC): Bt1 per share compared to Bt2 in 2019

Intouch Holdings (INTUCH): Bt2.62 per share compared to Bt2.50 in 2019.

Manpong Senanarong, Stock Exchange of Thailand (SET) senior executive vice president and head of the issuer and listing division, said listed companies’ profit last year had dropped almost 50 per cent due to Covid-19.

“However, some businesses that gained positive sentiment from the Covid-19 outbreak were able to pay high dividends,” he said.

He expected listed companies to pay high dividends this year in line with economic recovery and the progress of Covid-19 vaccination.

Wijit Arayapisit, a research department strategist at Maybank Kim Eng Securities, said SET50-listed companies’ dividend yield dropped to 2 per cent compared to 3 per cent before Covid-19, citing Bloomberg data.

He added that some listed companies had issued stocks in dividends instead of cash in a bid to deal with uncertainties.

“Meanwhile, the Bank of Thailand has instructed commercial banks to pay dividends not more than what was paid in 2019 and not exceeding 50 per cent of their 2020 net profit,” he said.

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https://www.nationthailand.com/business/30403430

Rising US bond yield likely to pressure Thai stock market

EconMar 08. 2021

By The Nation

The Stock Exchange of Thailand (SET) Index rose by 17.19 points, or 1.11 per cent, to 1,561.30 in the morning session on Monday.

A Krungsri Securities analyst expected the day’s index to rise to between 1,555 and 1,560 points on the US Senate’s approval of a US$1.9-trillion economic relief plan, and rising oil price in line with economic recovery.

However, he warned investors to beware of mass sell-offs of Thai shares after the US bond yield rose over 1.5 per cent.

He recommended investors to buy:

▪︎ PTTEP, PTTGC, TOP and IVL, which benefit from the rising oil price.

▪︎ AOT, MINT, CENTEL, CPN, CRC and MAJOR, which benefit from positive news of a Covid-19 vaccine in Thailand.

▪︎ HANA, KCE, TU and CPF, which benefit from the weakening baht.

▪︎ CBG, ICHI, SAPPE, RBF, DOD, PTG and TACC, which benefit from positive news on hemp production and its general use.

The SET Index on Friday closed at 1,544.11, up 10 points or 0.65 per cent. Total transactions amounted to Bt104.80 billion with an index high of 1,553.92 and a low of 1,529.83.

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https://www.nationthailand.com/business/30403426

Gold stages partial recovery after last week’s slump

EconMar 08. 2021

By The Nation

The price of gold rose by Bt150 per baht weight in morning trade on Monday, the Gold Traders Association reported.

As of 9.26am, the buying price of a gold bar was Bt24,700 per baht weight and selling price Bt24,800, while gold ornaments were priced at Bt24,256 and Bt25,300, respectively.

At close on Saturday, the buying price of a gold bar was Bt24,550 per baht weight and selling price Bt24,650, while gold ornaments were Bt24,104.40 and Bt25,150, respectively. The price had fallen by Bt550 per baht weight last week.

Spot gold moved to US$1,714 (Bt52,580) per ounce after falling by $2.2 to $1,698.5 on Friday, the lowest since June 5 last year, due to rising US bond yield and strengthening dollar amid strong US non-farm payroll data.

Hong Kong gold price rose by HK$140 to $15,810 (Bt62,441) per tael, the Chinese Gold and Silver Exchange Society reported.

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https://www.nationthailand.com/business/30403404

Domestic political situation, Covid-19 could influence stock market next week

EconMar 07. 2021

By The Nation

The Covid-19 outbreak and the political situation are expected to influence the Stock Exchange of Thailand (SET) Index next week, Kasikorn Securities said.

The securities company expected the SET Index to move between 1,510 and 1,550 points next week, advising investors to follow Thailand’s political situation, the Covid-19 outbreak and progress of the US economic stimulus package.

“US economic data that warrants close monitoring include consumer and producer price indices, plus the number of initial jobless claims. Other important factors that warrant close monitoring include the European Central Bank’s monetary policy, the China National People’s Congress meeting and February economic data, plus Japan and the euro-zone’s gross domestic product in the fourth quarter of 2020,” Kasikorn Securities said.

The SET Index on Friday closed at 1,544.11, up 3.16 per cent compared to last week’s close. The average daily transaction was Bt101.08 billion, up 2.01 per cent compared to last week close.

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https://www.nationthailand.com/business/30403317

Construction of four airports eyed to stimulate Northeast, South

EconMar 04. 2021

By The Nation

The Transport Ministry has agreed to consider funding the construction of airports in the Northeast and South to support domestic tourism, the Department of Airports (DOA) said.

DOA has conducted a feasibility study for an airport in the Northeast province of Bueng Kan and expects Bt3.5 billion to be allocated in 2022 for its construction.

If the plan is okayed by the Cabinet, the environmental impact assessment should be completed by next year, required land expropriated by 2023 and construction should be finished by 2026.

An airport in Bueng Kan is also being considered because more people are opting for air travel and there is no airport close to the province at present.

If this project goes ahead, the airport will cover approximately 20,000 square metres and be located about 15 kilometres from centre of Bueng Kan town.

DOA has also put in a request for Bt4.13 billion to build an airport in Satun province, which is being considered by the Transport Ministry.

The ministry is also considering the proposal for a Bt4.54-billion airport in Mukdahan province. Preliminary studies conducted in 2018 confirmed a previous study by the Japan International Cooperation Organisation, which concluded that the best location would be in Muang district’s Kham Pa Lai area.

It is about 20km from the city centre and is more or less equidistant from the airports of Nakhon Phanom, Sakon Nakhon and Roi Et provinces.

This Northeast province, which shares a border with Laos, is being considered as a special economic zone, as its geographical placement has a high potential for trade and investment.

DOA is also eyeing the possibility of putting up an airport in the southern province of Phatthalung, and its study of three possible locations should be completed by mid-June.

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https://www.nationthailand.com/business/30403315

SET proves resilient on bad day for Asian stocks

EconMar 04. 2021

By The Nation

The Stock Exchange of Thailand (SET) Index closed at 1,534.11 on Thursday, down 9.29 points or 0.60 per cent. Total transactions amounted to Bt108.85 billion with an index high of 1,540.66 and a low of 1,527.88. However, despite losing ground, the SET was the standout performer on a bad day for Asian indices. 

In the morning session, a Krungsri Securities analyst expected the index to fluctuate between 1,535 and 1,560 points in line with other Asian indices amid uncertainty over rising US bond yield and a possible drop in the oil price following today’s Opec+ meeting.

However, the index would be buoyed by mass buy-ups of stocks driven by the launch of Covid-19 vaccinations in Thailand, he said.

The 10 stocks with the highest trade value today were CPALL, PTT, AOT, CPF, MTC, SAWAD, BDMS, COM7, OR and PTG.

Other Asian indices were on the fall:

Japan’s Nikkei Index closed at 28,930.11, down 628.99 points or 2.13 per cent.

China’s Shang Hai SE Composite Index closed at 3,503.49, down 73.41 points or 2.05 per cent, while the Shenzhen SE Component Index closed at 14,416.06, down 516.33 points or 3.46 per cent.

Hong Kong’s Hang Seng Index closed at 29,236.79, down 643.63 points or 2.15 per cent.

South Korea’s KOSPI closed at 3,043.49, down 39.50 points or 1.28 per cent.

Taiwan’s TAIEX Index closed at 15,906.41, down 305.32 points or 1.88 per cent.

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https://www.nationthailand.com/business/30403307

Thai stocks attractive despite high P/E ratio

EconMar 04. 2021

By The Nation

The Thai stock market is still attractive to investors even though its price-to-earnings (P/E) ratio hit a new high at 40.33 times on Wednesday, the Federation of Thai Capital Market Organisations (Fetco) said on Thursday.

The Stock Exchange of Thailand (SET) Index on Wednesday closed at 1,543.40, up 40.04 points or 2.66 per cent. Total transactions amounted to Bt118.27 billion.

Foreign investors, local institutions and proprietary trading made net buys of Bt2.93 billion, Bt3.12 billion and Bt2.99 billion respectively, while local individuals made net sales of Bt9.06 billion.

Paiboon Nalinthrangkurn, Fetco chairman, said the index was boosted by news of Covid-19 vaccination in Thailand and the US Federal Reserve’s decision to deal with rising bond yield.

He added that the Thai stock market still attractive, thanks to the economic recovery and improvement of SET-listed companies’ fourth-quarter performance.

“Thai stocks P/E ratio on Wednesday was 40.33 times as SET-listed companies business turnover dropped by 30-40 per cent last year due to the Covid-19 outbreak,” he said. “However, we would like to advise investors to pay attention to Thai stocks ahead of P/E ratio this year and next year because the recovery of listed companies will help reduce P/E ratio.”

Meanwhile, Pattera Dilokrungthirapop chief executive officer at DBS Vickers Securities (Thailand) and former Fetco chairman, said the Thai stock market was still attractive over hopes of economic recovery after the Covid-19 vaccine drive, resulting in a drop in Thai stocks’ P/E ratio.

“Instead of speculating profits, investors should buy up cheap stocks and their profit is likely to improve,” she said.

She also expects foreign funds to flow into the Thai stock market on the market’s high liquidity and positive news of the Covid-19 vaccine.

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https://www.nationthailand.com/business/30403299

SET falls, but expected to ‘move upside’ on positive vaccine news

EconMar 04. 2021

By The Nation

The Stock Exchange of Thailand (SET) Index dropped by 7.02 points, or 0.45 per cent, to 1,536.38 in the morning session on Thursday.

A Krungsri Securities analyst expected the index to fluctuate between 1,535 and 1,560 points in line with other Asian indices due to uncertainty over a rising US bond yield and the results of a key Opec+ meeting expected later on Thursday.

However, the index would move upside from mass buy-ups of stocks which have gained positive sentiment from good news that Covid-19 vaccinations have commenced in Thailand, he said.

He recommended investors buy:

▪︎ AOT, Mint, Centel, CPN, CRC and Major, which benefit from positive news of a Covid-19 vaccine in Thailand.

▪︎ Hana, KCE, TU and CPF, which benefit from the weakening baht.

▪︎ CBG, Ichi, Sappe, RBF, DOD and PTG, which benefit from positive news on hemp production and its general use.

The SET Index closed at 1,543.40 on Wednesday, up 40.04 points or 2.66 per cent. Total transactions amounted to Bt118.27 billion, with an index high of 1,543.48 points and a low of 1,510.07.

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https://www.nationthailand.com/business/30403297

Gold price down in opening trade

EconMar 04. 2021

By The Nation

The price of gold dropped by Bt200 per baht weight in morning trade on Thursday, the Gold Traders Association reported.

As of 9.40am, the buying price of a gold bar was Bt24,550 per baht weight and selling price Bt24,650, while gold ornaments cost Bt24,104.40 and Bt25,150, respectively.

At close on Wednesday, the buying price of a gold bar was Bt24,750 per baht weight and selling price Bt24,850, while gold ornaments cost Bt24,301.48 and Bt25,350, respectively.

The spot gold price on Thursday moved to US$1,714 (Bt52,062) per ounce after falling by $17.80 to $1,715.80 on Wednesday, the lowest in almost nine months, due to a rising US bond yield and a strengthening dollar.

Meanwhile, progress in US Covid-19 vaccinations also pressured the price of the precious metal.

The Hong Kong gold price dropped by HK$120 to $15,860 (Bt62,101) per tael, the Chinese Gold and Silver Exchange Society reported.