On Monday at 11:21 AM (Bangkok time), the price of Vayupak Fund 1 Class A (SET: VAYU1) increased by 1.00% or THB 0.10 to THB 10.10 per share, exceeding the IPO price of THB 10.00, with a trading value of THB 2.23 billion.
Krungsri Securities (KSS) highlighted that the trading activity of the Vayupak Fund (VAYU1), which began trading on Monday, has been met with sustained positive sentiment since October 1st from an influx of investment into the Thai market.
Institutional investors have displayed significant interest over the past three trading days, with a net buy amounting to THB 14.7 billion. This marks a notable shift from the negative and comparatively lower trading values of THB -1.7 billion in September 2024 and THB 2.3 billion in the initial nine months of 2024.
These developments coincide with the inception of the Vayupak Fund 1 on December 1, 2003, which saw remarkable growth, reaching its peak on January 12, 2004 with a 153-point increase or 23%. During this period, the SET Index received backing from institutional investors, with a net buy of THB 9.44 billion, and domestic investors, with a net buy of THB 2.37 billion.
Therefore, KSS projections indicate a 2024 year-end target for the SET Index at 1,540 points, bolstered by positive developments in internal politics, which are expected to drive Thai economic growth by 2.4% in 2024 and a projected 2.8-3.0% in 2025.
As the Thai stock market looks set to receive support from domestic investors, reminiscent of the inflows seen in VAYU1 during 2003-2004, top-pick stock recommendations for medium- and long-term investors in 4Q24 from KSS include:
1.) Rate Cut Cycle Plays : GULF, GPSC, MTC
2.) New Government Policy Support : CPALL, BJC
3.) The Return of Domestic Long-term Funds (Vayupak+ThaiESG) : BDMS, AOT, KTB, ADVANC, HMPRO
