Thai stocks up on clearer political outlook

FRIDAY, JUNE 09, 2023

The Thai stock market closed yesterday at 1,559.50 points, up 26.29 points, or 1.71% with a trading value of 59.63 billion baht on strong buying of large capital stocks amidst the improved Thai political outlook.

According to Krungsri Capital Securities, positive Thai political developments including the recount of votes in 47 constituencies, should expedite the endorsement of members of parliament.

The main factors supporting the Stock Exchange of Thailand (SET) index are mainly in the energy sector, such as PTT and Gulf, as well as the electronics group, including Delta. Retail groups, such as CRC and Makro also contributed.

In terms of trading value, institutional investors bought a net total of 2.22 billion baht, foreign investors a net total of 1.82 billion baht, and brokers 207.61 million baht, while domestic investors sold a net total of 4.25 billion baht.

Today's SET index range is projected by Krungsri Capital Securities at 1,518 - 1,560 points.

Recommended large-cap stocks are as follows:

Retail group: Makro (target price: 38.5 baht), BJC (target price: 44.0 baht), CRC (Target Price: 50.0 baht).

China-related group: SCGP (target price: 52.0 baht), IVL (target price: 41.0 baht).

Banking group: KBank (target price: 160.0 baht).

Lease-to-own group: Sawad (target price: 65.0 baht).

Industrial estate group: Amata (target price: 25.0 baht), WHA (target price: 5.0 baht).

The top 5 securities with the highest trading value are:

AH: Trading value of 2.99 billion baht, closed at 36.50 baht, decreased by 2.75 baht.

PTT: Trading value of 2.72 billion baht, closed at 31.75 baht, increased by 1.00 baht.

KBank: Trading value of 2.66 billion baht, closed at 133.50 baht, increased by 1.50 baht.

Delta: Trading value of 1.98 billion baht, closed at 103.50 baht, increased by 3.00 baht.

CPAll: Trading value of 1.92 billion baht, closed at 63.00 baht, increased by 0.50 baht