Bangkok Floods Drag on SET; Brokers Point to 3 Stock Themes Set to Benefit After Waters Recede

Prachachat··TH·Read original
3▲9 ▼0Impact / 5
Summary · why it matters

Flooding in Bangkok and its surrounding provinces is weighing on the Thai stock market in the short term. Piriyaphon Kongwanich, a strategist at BLS Wealth Research of Bualuang Securities, estimates preliminary damage of roughly 10 billion to 30 billion baht and expects only a limited impact on gross domestic product and listed-company earnings. He flagged stocks that may draw interest, including HMPRO, GLOBAL, DOHOME and ILM, with the research team upgrading GLOBAL and DOHOME to speculative buy while keeping buy ratings on HMPRO and ILM. Thaweethak Taweethiratham, an executive director at Asia Plus Securities, assesses the overall impact as still limited and short-lived, with building materials benefiting from demand to repair homes, while retail, hospitals and food also have support. Sectors to watch for indirect effects include electronics, power plants, construction contractors, agriculture and commercial banks, while tourism, property and hire-purchase lending have already begun to feel negative effects. InnovestX Securities sees the pullback as a buying opportunity, noting that in past cases of short flooding lasting no more than seven days, the SET typically fell an average of about 0.6%, or 10 points, on the first day before turning positive within a week. It recommends a buy-on-dip strategy in domestic-play stocks through three themes: Recovery & Repair, comprising HMPRO, GLOBAL and DCC; Consumer Staples & Stockpiling, comprising CPALL, BJC and CRC; and Fast Recovery, comprising CENTEL, ERW, BDMS and BCH. The sector warranting added caution is insurance, given the risk that the loss ratio will rise from the damage incurred.

Impact on assets 12

Consumer Discretionary▲ · 7 stocks
Dohome Public Company Limited
DOHOME
▲ PositiveDemandrelevance

Upgraded to speculative buy by BLS and cited as a building-materials beneficiary of home-repair demand after the floods.

Aging Population▲ · 1 stocks
Consumer Staples▲ · 1 stocks
Berli Jucker PCL
BJC
▲ PositiveDemandrelevance

Named in InnovestX's Consumer Staples & Stockpiling theme, seen benefiting from flood-related stockpiling demand.

Digital Finance & Tokenization▲ · 1 stocks
CP ALL Public Company Limited
CPALL
▲ PositiveDemandrelevance

Named in InnovestX's Consumer Staples & Stockpiling theme, seen gaining from flood-driven stockpiling of staples.

Industrials▲ · 1 stocks
Health Care▲ · 1 stocks
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