Deter Crypto-Omicron!!

Index 51

3 Dec. 2021 04:55 a.m.





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The Thai stock index on December 2, 64 closed at 1,591.84 points, an increase of 1.03 points, with a trading value of 67,069.51 million baht, foreign net sales of 1,475.86 million baht.

Asia Plus Securities

Identify the trend against the use of Crypto Currency from the Bank of Thailand

announced that

The Bank of Thailand does not support the use of digital assets to pay for goods and services due to: 1. High volatility

2. There is a risk of cyber theft.

3. May be used as a tool of money laundering

Assess that currently listed companies in Thailand are engaged in Crypto currency-related businesses, divided into 4 types, namely ICO portal, payment of services, investment in Crypto currency, and Bitcoin Mining, as shown in the picture.

Asia Plus estimates that the announcement from the Bank of Thailand will affect or create a negative sentiment to listed companies that operate type 1 business, namely ICO portal, such as KBANK, SCB, XPG, CGH, etc., as it may hinder the process of issuing coins or tokens in the market. etc.

As for the second type of companies, those who accept tokens for goods and services, such as SIRI ANAN ORI MJD real estate, media groups such as MAJOR, are not expected to be affected.

This is because consumers are still a significant minority who use coins to trade goods and services.

As for the type 3-4 business, it is not expected to be affected at all because it is not related!!

As for the Omicron issue, Asia Plus stated that Fund Flow responded to Omicron to a certain extent, but in the short term, the stock market had much higher volatility than usual.

But I believe that in December there will be Fund Flow from the Tax Saving Fund.

which normally has purchases coming in more than 25% of the total purchases for the year

For foreigners, even net sales

But its holdings in Thai stocks are at an all-time low of 17.94%. Including NVDR holdings, it's at 23.20%, far from the previous 30% holdings.

In conclusion, there is still hope to see money from tax saving funds to help support the stock at the end of the year.

If concerns about the new strain of COVID don't last long, plus foreign flow has a chance to flow into Thai stocks in the next period.

Suggest strategies, avoid short-term trading and reserve some cash.

to avoid market volatility

On the other hand, if the revised index goes deeper

This is an opportunity to gradually accumulate in order to expect results in the medium to long term.

Index 51