Mr. Therdsak Thaveeeratham, Deputy Director of Research Division Asia Plus Securities Company revealed that from the officialChina eases lockdownIn Shanghai, starting June 1, 2022, many businesses have started to reopen and there are measures to restore the economy and help the affected businesses and measures to restore consumption until the end of 2022, which is a factor supporting the stagnation. Chinese economy and the Thai economy in the future
The research department looks for a group of stocks that have dropped since China began to loosen the lockdown. late March (28 Mar. 2022) to the present, found that the group that has been adjusted deeply, such as the steel group and Metal Products (STEEL), Commercial Banks (BANK), Electronic Components (ETRON), Information and Communication Technology (ICT), Media and Publishing (MEDIA), (Automotive) AUTO, Commerce (COMM) and Construction Materials (CONMAT).
forsharethat has been adjusted down deeply fromChinastart lockdown and is expected to recover well in the next period And the price has not increased much, such as STEC target price 13.10 baht, TFG target price 5.15 baht, SMT target price 4.70 baht, BBL target price 131.00 baht.
The direction of foreign investment (Fund Flow) During the rest of this year, I think the fund flow may not flow much. Due to the Fed’s tightening monetary policy and if Thailand has not raised interest rates Which still need to monitor the interest rate policy of the MPC to really raise interest or not But the Thai economy is expected to recover in the third and fourth quarter of this year due to the full opening of the country. It is a factor that supports the inflow of funds.
Mr. Apichart Phobunjerdkul senior director Strategic Analysis Division TISCO Securities said afterChinacome back to gradually open the city after Loosen the lockdown from the spread of the coronavirus and have measures to stimulate the Chinese economy This will have a positive effect on Thai exports. In particular, commodities such as coal, rubber, food are expected to recover in the next 1-2 months.
However, we still have to keep track of whether the covid situation will come back to spread again and will lockdown again or not. Because the Chinese authorities still use the Zero-Covid Policy or Zero-COVID, with outstanding stocks to support the Chinese economy recovering, recommending Charoen Pokphand Foods PLC (CPF) with a target price of 32 baht, including Banpu Public Company Limited (BANPU) and Northeast Rubber Public Company Limited (NER), the market gives a target price of 14.75 baht and 10.57 baht.
Mr. Apichart said that the direction of foreign investment (Fund Flow) On May 31, the net buy was quite high. This is seen as a result of MSCI Rebalance, but after this, the fund flow trend will slow down in the next few months. Due to factors, the Fed will start reducing the balance sheet or doing QT in June, causing the market to fluctuate.
It is expected that this year Foreign investors bought a net of 200 billion baht in Thai shares during the fourth quarter of this year, from a net buy of 140 billion baht already. It was net sales of 48 billion baht from positive factors to open the city, economic recovery and high oil prices, benefiting energy groups and exporting commodities. but still need to monitor the clarity of the Bank of Thailand’s interest rate hike policy, control inflation and the currency
Securities analyst Kasikorn Securities Revealed that Thai stocks were supported by the government’s relief from the Shanghai lockdown on June 1, and the Chinese government stimulated the economy through monetary and fiscal policies, etc.
In addition, Chinese economic figures such as manufacturing PMI in May recovered, and MOM KS estimated that the Chinese economy had passed its lowest point. Overall, it is recommended to accumulate stocks and speculate and find profit (Lock Profit) if the price approaches resistance. and basic price
Mr. Jitipol Pruksamethanan investment strategist Strategy and Investment Product Development Department Business Development UOB Asset Management Co., Ltd. (Thailand) said ChinaRelieving lockdowns and having economic stimulus measures have a positive effect on the Thai economy. Especially the export group that has had problems with the supply chain in the past. such as electronic components will come back to recover better This makes the investment atmosphere in the short term more exciting. shareOf interest are the export industries such as electronic components and the service sector.