2024-02-29 13:54:13
© Reuters. (Additional) Thai stock market situation: Morning index trends fluctuate. Pressured from the world market Investors are waiting to follow PCE numbers tonight.
InfoQuest – Mr. Apichart Phubanjerdkul, CISA Senior Director Strategic Analysis Division, TISCO Securities said that the trend of the Thai stock market this morning is expected to fluctuate. Pressured by the atmosphere of the world stock market, which has mostly decreased. Investors were cautious ahead of the release of the Personal Consumption Expenditures (PCE) price index today, a measure of inflation used by the Federal Reserve to guide monetary policy interest rates.
In addition, follow the release of reports on the Thai economic and financial situation. from the Bank of Thailand (BoT) and
The number of US jobless claims today and the release of China’s Purchasing Managers Index (PMI) tomorrow (March 1), while the results of most listed companies are mixed. With stocks that were worse than expected such as EGCO and better than expected stocks BEM, including today you may have to be careful from adjusting your portfolio according to MSCI Rebalance.
Today’s investment strategy recommends stocks with good performance and a continued good trend this year: BEM, PR9.
With a support frame of 1,370-1,375 points and a resistance level of 1,390 points.
Investment consideration issues
– New York Stock Exchange (28 Feb.) The DJIA New York Stock Exchange Index closed at 38,949.02, down 23.39 points or -0.06%, the S&P500 New York Stock Exchange Index closed at 5,069.76 points, down 8.42 points or -0.17%, and the New York Stock Exchange Index closed at 15,947.74 points. Decreased 87.56 points or -0.55%
– Asian stock markets open today. The Hong Kong Stock Exchange Hang Seng Index opened the morning session at 16,429.57 points, down 107.28 points or -0.65%, and the Shanghai Composite China Stock Exchange Index opened the morning session at 2,943.62 points, down 14.23 points or -0.48%, while the Nikkei Index The market opened at 38,935.53 points, down 272.5 points or -0.70%.
– The Thai stock market closed most recently (28 Feb.) at 1,382.05 points, down 11.65 points (-0.84%), trading value 55,250.06 million baht.
– Foreign investors bought a net amount of 742.96 million baht (28 Feb.)
– WTI delivered in April. fell 33 cents, or 0.42%, to close at $78.54/barrel.
– The Singapore market’s reference refining margin last closed (28 Feb.) was at $7.19/barrel.
– The baht opened at 35.97, likely to swing sideways in the 35.90-36.10 range, waiting to follow US economic data.
– “SCBX” invests 31 billion baht to acquire 100% of the Home Credit Vietnam business from Home Credit Group to penetrate retail lending in Vietnam. Reinforcing goals to the regional level Ready to be confident that you will make a profit immediately after completing the transaction. It is also a way to distribute income and support strong growth.
– The Ministry of Finance reveals that the Thai economy in January 2024 improved. Benefiting from more than 3 million tourists entering Thailand, exports grew 10% compared to the same period last year. Economic stability remains good. Public debt is still only 61.3% of GDP, but private investment has slowed. Car and construction sales decreased. In contrast to the Industrial Sentiment Index. increased to 90.6 from 88.8 in the previous month.
– ‘Seththa’ announces aviation hub plan on March 1st. AOT will work on 4 issues to reduce passenger congestion. TAT organizes a workshop push to become a tourist center ‘Bhoomtham’ swings ‘Freen-Becky’, the couple in the Yuri series, helps boom Thai community products. Extending soft power to the world level The government has disbursed 38 billion baht.
– Ministry of Public Health warns “Thailand” is entering the summer season. This year the weather is hotter than last year. Worried about the risk of “heat stroke” being dangerous and even fatal. Avoid staying in the sun for long periods of time. For those who work outdoors, switch to the shade periodically. Suggest ways to prevent Observe symptoms and provide first aid Meanwhile, the Thailand weather forecast page expects temperatures for the next 7 days, from February 29 to March 6, to be hotter than 35 degrees Celsius in many areas across the country in the red.
Today’s top stocks
– TIDLOR (Finansia) recommends “Buy” with a target price of 27 baht. 4Q23 net profit comes out at 901 billion baht, -10% qq but +10% yy, close to expectations, weighed down by aggressive reserves. But this was partially compensated by strong growth in fee income. A good point is asset quality which has continued to develop positively. Most recently, NPL moved down to 1.47%, lower than we expected and reduced from 1.54% in 3Q23.
Adjusted the 2024-2025 forecast slightly to reflect management’s guidance. It is expected that net profit in 2024-2026 will still grow outstandingly, averaging +20% CAGR.
Support level 22.80-22.20 baht, resistance level 23.40-23.50 and 24 baht.
– ICHI (Dao) recommends buying with a strategic target of 19.00 baht based on the summer weather forecast this year. It is expected to be very hot and faster than last year. which will be good for beverage stocks There will be higher sales (high season) and ICHI will benefit from this.
Continued growth in the consumption of ready-to-drink tea beverages The ready-to-drink tea beverage market in Thailand has grown as much as +8.6% CAGR from 2022-2027 due to the trend of loving more health.
Estimated 2024 profit at 1,240 million baht (+13% YoY) from increased domestic consumption. from the warmer weather and increasing production capacity at the end of 2024
– PSL (Liberator) recommends Buy with a target price of 11.10 baht. The February freight rate index has increased strongly. Supported by restocking products after Chinese New Year. and expectations for the overall Chinese economy that should gradually recover. which sends a positive picture to the shipping business
This morning the freight index +7.5%dd to a level of 2,041 points, the highest in almost 2 months.
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