© Reuters. (Additional) Thai stock market situation: Positive morning index trend limited by region. Waiting to follow the numbers GDP-US inflation
InfoQuest – Mr. Sarawut Techochawalit, Senior Director of Securities Analysis Department, RHB Securities (Thailand), said that the Thai stock market this morning is expected to continue rising. But not as hot as yesterday, in line with other stock markets in Asia that moved slightly in both positive and negative territory. Because investors Come back and wait to see the release of US GDP figures tonight and US inflation figures this Friday. To assess the interest rate direction of the Federal Reserve (Fed).
Meanwhile, the country waits to see the government’s issuance of additional economic stimulus measures. After Thailand’s GDP figures came out lower than expected
However, it is expected that the stock market will receive support from China, which will reduce the reserve ratio of commercial banks (RRR) in early February in order to Enhance liquidity It will cause the Chinese and Hong Kong stock markets to recover. coupled with the strong operating results of Netflix Company and ASML, a major chip manufacturer. It will also be positive for our electronics stocks.
Support is set at 1,375 points and resistance at 1,387 points.
*Investment consideration issues
– New York Stock Exchange (24 Jan.) The Dow Jones Industrial Average closed at 37,806.39 points, down 99.06 points or -0.26%, the S&P 500 index closed at 4,868.55 points, an increase of 3.95 points or +0.08%, and the Nasdaq index closed at 15,481.92 points, an increase. 55.97 points or +0.36%
– Asian stock markets open today. The Hang Seng Index of the Hong Kong Stock Exchange opened the morning session at 15,989.94 points, an increase of 90.07 points or +0.57%, and the Shanghai Composite Index of the Chinese Stock Market opened the morning session at 2,823.83 points, an increase of 3.06 points or +0.11%, while the Nikkei Index The market opened at 36,213.14 points, down 13.34 points or -0.04%.
– The Thai stock market closed most recently (24 Jan.) at 1,381.19 points, an increase of 24.65 points (+1.82%), trading value 53,763.46 million baht.
– Foreign investors sold a net amount of 545.70 million baht (24 Jan.)
– WTI delivered in March (24 Jan.) rose 72 cents, or 1%, to close at 75.09 dollars/barrel.
– The Singapore market’s reference refining margin last closed (24 Jan.) was at $7.88/barrel.
– The baht opened at 35.77, weakening, giving a range of 35.60-35.90 today, keeping an eye on the results of the ECB meeting.
– FPO cuts the Thai economy in 2023. It is expected to expand at 1.8% per year. In 2024, it will expand at 2.8% per year, indicating that the Thai economy is not yet in crisis. This is why it has been negative for 2 quarters in a row. Keep an eye on household debt, which is over 16.2 trillion baht outstanding, accounting for 90.9% of GDP. It is stated that tourism this year is set to expand at 19.5% per year. Foreigners visiting Thailand reach 33.5 million people, confirming that the FPO is free Not related to politics
– “Kasikorn Bank” looks at the trend of Thai stocks in the first half of the year. “Fundflow” is still outflowing due to various negative factors. Both uncertainty about the Fed cutting interest rates – disappointment Chinese economy – risk of Thai economy declining – corporate profits likely to decrease Hope the Fed cuts interest rates At the end of the second quarter, business liquidity was boosted. regain confidence
– “Seththa” reveals that he is preparing measures to stimulate the economy after “”GDP” grows low, pointing out that the measures do not include in digital wallet Confirming that there will be no intervention in producing the GDP numbers, the FPO has lowered the economic forecast for 2023 to 1.8% due to the industrial production sector contracting for 14 consecutive months, stating that the Thai economy is expanding continuously but is not yet in crisis.
– “Suriya” moves forward to Land Bridge Confident that something will definitely happen within this government. Investors in “Dubai-India” are interested in going on a roadshow to China. Ordering the OTP to study and aim to set up a Land Bridge Fund to compensate people who don’t have rights documents. but was affected by expropriation.
– Leading the team in a stressful meeting at the Department of Special Investigation Speed up the prosecution of more Stark suspects. After the prosecutor ordered additional investigations Recently, a group of victims of STARK bonds met with prosecutors to submit a letter requesting justice. Suspicions of the Department of Special Investigation making a weak case after “Chinwat” has no case against him. Meanwhile, Stark’s executives, both “Chanin-Wanrat-Kittisak and Yasoborn” have a high chance of survival, even though there is strong evidence. They are preparing to raid the DSI to resolve their doubts soon. Look forward to 26 Jan. DSI will send Additional documents added after prosecutors fired back
*Today’s featured stocks
– ITEL (Finansia Cyrus) “Buy” target price 4 baht, expected 4Q23 profit to grow 15% qq to 79 million baht, the highest quarter of the year and end 2023 with a normal profit of 269 million baht +2%. yy It has been a challenging year but it has passed. Recently, ITEL acquired 100% of GLS for 40 million baht. There may be accounting profits coming in in 1Q24. The purchase of GLS helps expand into Health tech, which is a market with potential. GLS is growing as a medical service provider. Specializes in CT scan / MRI scan. Currently, customers are both public and private hospitals. The product is a necessary product and is in a high-growth market. We expect 2024 profit to grow +20% yy. The current share price is trading at a PE of only 10.7 times.
– CPALL (BK:) (Liberator) strategic target price 70.00 baht, expected 4Q23 net profit to increase both qq and yy from entering the high season, combined with the recovery of the tourism sector. and celebration In addition, sales and administrative expenses to revenue decreased. SSSG of 7-Eleven stores and the MAKRO group improved well, while Valuation traded somewhat lower than the historical PE average.
– KTB (Dao) strategic target 17.50 baht. The stock price dropped by 10% after the budget came out wrong than expected. But starting to see buying pressure coming back in in the past 2 days, it is thought that the selling pressure is likely to subside. and the price should gradually improve We view it as a short play. More than buying and keeping
The reason that caused the share price to drop occurred after reporting net profit for 4Q23 at 6 billion baht (-25% YoY and -41% QoQ), lower than we expected – 35% from reserves, much higher than expected at 13 billion baht (expected 8.4 billion baht) from reserves for large customers And there are more other expenses than expected if we consider that the provision is a one-time expense. Moreover, this is the 4Q period where some expenses are usually recorded in this quarter. (The same for every bank) So it’s not a very negative matter. Must sell stocks And this kind of thing happened in the 4th quarter of 2022 when stock prices (many banks) bounced back after their budgets were not good.
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2024-01-25 09:11:33
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