© Reuters. (Additional) Thai stock market conditions: Morning index trend swings sideways. Follow the Fed Chairman’s statement – Thai inflation
InfoQuest – Mr. Apichart Phubanjerdkul, CISA Senior Director Strategic Analysis Division, TISCO Securities, said that the Thai stock market this morning is expected to swing sideways to sideway down. There are still no new positive factors. Investors are waiting for leading factors, such as statements from Mr. Jerome Powell, Chairman of the Federal Reserve (Fed), to the House Financial Services Committee on March 6 and to the Senate Banking Committee on Mar. 7, including this week’s U.S. employment figures. To find signals about the Fed’s interest rate direction
While in our house today Keep an eye on the February inflation figure release, expected to be -0.8% YoY.
Keep the support level at 1,360-1,350 points and the resistance level at 1,375-1,380 points.
*Investment consideration issues
– New York Stock Exchange (4 Mar.) The DJIA New York Stock Exchange index closed at 38,989.83 points, down 97.55 points or -0.25%, the S&P500 index closed at 5,130.95 points, down 6.13 points or -0.12%, and the index closed at 16,207.51 points, down 67.43. points or -0.41%
– Asian stock markets open today. The Hang Seng Index of the Hong Kong Stock Exchange opened the morning session at 16,343.95 points, down 252.02 points or -1.52%, and the Shanghai Composite Index of the Chinese Stock Market opened the morning session at 3,027.10 points, down 12.21 points or -0.40%, while the Nikkei Index The market opened at 39,881.73 points, down 227.5 points or -0.57%.
– The Thai stock market closed most recently (March 4) at 1,362.57 points, down 4.83 points (-0.35%), trading value 40,361.88 million baht.
– Foreign investors sold a net amount of 609.80 million baht (4 Mar.)
– WTI delivered in April. (March 4) dropped 1.23 or 1.54%, closing at 78.74 dollars/barrel.
– The Singapore market’s reference refining margin last closed (March 4) was at $6.94/barrel.
– The baht opened at 35.74, strengthening slightly. Keep an eye on Thai inflation – US economic figures – Statement from Fed officials
– SET D-Day extends time Trade stocks 30 minutes faster in afternoon trading. Both the Stock Exchange, the MAI market and TFEX will start using this on March 25th. It is revealed that increasing trading hours helps. The number of trading hours in Thailand has moved closer to other stock markets with an average of 6-7 hours per day.
– NESDB reveals that Thai household debt has exceeded 16.2 trillion, reaching 90.9% of GDP, indicating an increasing trend, the rate of slowing down, seeing signs of car and real estate loans starting to slow down, but high-risk vehicle registration pawn debt, the total rose 40.2%. It’s easy to get a high interest rate loan. Reflecting on households’ lack of liquidity, “Danucha” is undecided whether the LTV threshold should be relaxed or not, stating that household debt is still very high. Pointing out that the proportion of unskilled workers is high, reflecting that the production structure has not yet been adjusted.
– “Chairman of the Election Commission” reveals that he is considering dissolving “Khao Kao Kai” without any delay, hastening to study the court’s decision. Complete constitution Along with specifying the case requesting the disbandment of “Bhumjaithai” within the time frame.
– “Airline Association” welcomes the Prime Minister’s son to announce support for the policy of making Thailand an aviation hub of the region. Asking the government to unlock regulatory measures and laws. It will help with flexibility. along with recommendations for improving and expanding airports throughout the country to increase their capacity to support flights
*Today’s featured stocks
– AMATA (Krungsri) “Buy” target 28 baht with positive sentiment from news Tesla (NASDAQ:) is also interested in investing in Thailand by surveying the area to build a factory to produce batteries and electric cars. Meanwhile, the Thai government has increased its offer to TESLA to use 100% Green Energy.
– SAPPE (Kasikornthai) base price 101.90 baht in 2024 SAPPE aims to 1) increase sales 20-25% 2) maintain GPM at 44.8% 3) revive the coconut water business and 4) increase SG&A to expand revenue. 100 bps Management expects 1Q24 sales to hit a new record high. Positive outlook on the analyst meeting. GPM target is higher than our assumption of 43.9%, which represents upside risk. Higher SG&A expenses are included in the estimate. Factors that increase the stock’s valuation multiple include: 1) Quarterly outlook 1/2024, stronger from stronger sales and lower marketing expenses QoQ 2) lower PET resin prices (45% of CoGS) 3) upside risk to our forecast Considering SAPPE’s GPM target and 4) inexpensive stock value, trading with a 2023-25 PER of 21.4 times/18.1 times/16.6 times.
– SAFE (IRA) “speculative” target 21.00 /23.30 baht. We like SAFE from the trend in infertility treatment, which is expected to support profits in 2024, growing continuously from income from treating foreign customers, especially foreigners. China rose Meanwhile, the plan to expand more branches in the next period is expected to increase the Upside in the future. Technically, the price breaks out resistance at the downtrend line. with increased trading volume Meanwhile, the MACD technical tool turned up and SSTO gave a buy signal.
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2024-03-05 20:10:51
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