HoonSmart.com>> “Pie Securities” assesses the stock market this week in a frame of 1,590 – 1,630 points, keeping an eye on the Jackson Hole meeting, suggesting strategies to reduce investment portfolios. Selection of outstanding stocks served by ONEE-TACC
Analysis of Securities Company Pi (Pi) Evaluates the SET INDEX frame this week from 1,590 – 1,630 points, still assessing as before. Upside is limited and strategically focuses on reducing portfolios as before. because he foresaw the next risk from interest, inflation and economic recession.
The Dow Jones Industrial Average closed down 0.86% on Friday night, returning to concerns about the situation of interest rates and inflation again, reflected by rising 10-year U.S. Treasury yields, as well as rising expectations for five-year inflation. The Dollar Index’s appreciation will pressure other currencies to depreciate and put pressure on foreign fund flows in Thailand that have a net selling opportunity. The price of BRT crude oil remained stable. Overall, investors are still waiting to see Iran’s nuclear deal talks.
The main focus this week is expected to be the focus of the Jackson Hole meeting, or the Federal Reserve’s (FED) annual meeting, which runs Thursday through Saturday. Investors are believed to be keeping their eyes on the Fed Chair’s comments on interest rates and inflation from now on. Markets currently expect the Fed to raise interest rates another 0.5% with a probability of 59%, while 41% expect a 0.75% rate hike.
Recently, prices of commodities such as natural gas, corn, and the Bloomberg Commodity Index have started to rise, reflecting persistent inflationary pressures. The Fed is in the spotlight, so if the Jackson Hole meeting begins to reveal a potential interest rate trend that could be above 0.5% at the September meeting, it will put pressure on global stock markets. Other factors will focus on economic figures such as manufacturing in the US and several European countries that are due to be reported on Tuesday.
Meanwhile, new U.S. home sales are reported on that day, Bloomberg estimates 574 lakh units. Next Wednesday, durable goods orders will be reported, Bloomberg forecasts 0.9%MoM.
As for Thailand on Wednesday, there will be a report on international trade. Bloomberg expects July’s export value to grow 10.9%YoY and import to grow 21%YoY. positive for the overall investment
Recommended stocks also focus on domestic, such as retail (BJC CRC CPALL DOHOME GLOBAL), restaurants (M), travel (AOT, CENTEL, ERW, MINT, SPA), communications (ADVANC).
ONEE (Buy / Target Price 11.60 baht) Likes ONEE because it has a position in producing content for online platforms that are superior to competitors. while still continually gaining market share in the digital TV industry
TACC (Buy / target price of 9.50 baht) The trend in 2H22 is expected to increase from the previous year due to the benefit of tourism that has started to recover. Combined with the launch of new products such as TRIVA, the character licensing business is expected to see a recovery as well after more customers return to market.