Thailand stock market overview
Thailand’s SET Index closed at 1,352.56 points, representing a drop of 0.61 points or 0.05% with a trading value of 40.3 billion baht. The analyst stated that the Thai stock market moved narrowly with smaller gains compared to regional markets.
The analyst recommended investors monitoring Chinese arrivals during the Lunar New Year and the preview of commercial bank results. Meanwhile, overseas factors are moving in a positive direction following easing concerns over the Fed’s policy rates.
IPO is picking up
Goldman Sachs CEO David Solomon forecasts an end to the prolonged IPO drought, expressing optimism about a rebound in the market. “It’s going to pick up. It’s been slow, it’s been turned off,” he said.
The tech IPO scene has significantly stalled since late 2021 due to inflationary concerns and rising interest rates, compounded by strict regulations limiting M&As for large tech firms. However, Solomon perceives a shift in sentiment, with renewed activity anticipated in both IPOs and M&As. “We have a more constructive kind of optimism, which always helps,” he noted, projecting a healthier business landscape ahead.
TSMC 4Q results
The fourth quarter revenue and profit of Taiwan Semiconductor Manufacturing Company (TSMC) shattered forecasts, as demand for advanced chips for artificial intelligence showed no sign of slowing down.
Estimated net revenue: NT$ 850.08 billion, versus actual net revenue: NT$ 868.46 billion.
Estimated net income: NT$366.61 billion, versus actual income: NT$374.68 billion.
TSMC’s revenue in the fourth quarter surged 38.8% from the previous year, while net income gained 57%.
Biden’s farewell address
In his final formal address, President Joe Biden cautioned against the burgeoning influence of “oligarchy” and “extreme wealth” on American democracy, as President-elect Donald Trump, whose incoming administration is notably composed of billionaires, prepares for his second term.
Speaking from the Oval Office, Biden lamented the formation of a power concentration that jeopardizes democratic values and equal opportunity.
Selloff in Master Style Pcl.
The share price of Master Style Public Company Limited (SET: MASTER) plunged 20% on Thursday.
On Thursday morning, there was one big-lot transaction of MASTER at around 11.36 million stocks, totaling THB 420.57 million at the average price of THB 37 per share, which is lower than yesterday’s closing price of THB 40.25 per share.
Over three trading days (13-15 January 2024), MASTER price has continuously fallen from THB 47.00 on 10 January to the recent price of THB 32.00 (16 January), the price has gone down for a total of 32%.
