“Finansia Cyrus” expects stocks to swing sideways. Lack of new stimulating factors – Hoonsmart

HoonSmart.com>> Finansia Syrus Securities expects the stock market today to swing sideways in the range of 1,405-1,425 points, lacking new stimulating factors. and has not yet passed 1,430. US bond yields rose slightly, while the Dollar Index turned to strengthen. Factors in countries without new developments

Finansia Syrus Securities expects the SET Index to continue to fluctuate sideways in the range of 1,405-1,425 points, with no new factors stimulating. And in the short term, it still hasn’t recovered past the resistance level of 1,430 points, although last night the US stock market recovered somewhat. But economic numbers came out quite negative, including orders for durable goods which came out -5.4% mm, lower than the market expected. Meanwhile, expected inflation over the next one year increased from 4.4% last month to 4.5% in November, causing the US Bond Yield to increase slightly and the Dollar Index to strengthen.

As for domestic factors, there are no new developments. The Royal Decree is still waiting for the Ministry of Finance’s draft interpretation of the 500 billion baht loan bill. which is expected to be delivered by the end of the year As for next week, follow Thai export numbers in October and the MPC meeting, which is expected to maintain interest rates at 2.5% and must follow the downward revision of economic forecasts. Still expecting the Thai economy to gradually accelerate to GDP in 4Q2023-2024, still looking at an adjustment of the index in the past 2-3 months by almost 10%, reflecting negative factors including adjustments in corporate profit estimates. and De-rated Valuation has gone quite far, causing the index level of 1,400 points or lower to be expected to have more limited downside. In the short term, if the picture is to be positive, it must break through 1,430 points to open the Upside to test the next main resistance level at 1,460 points

Strategy: Select stocks with strong 4Q23-2024 earnings momentum and low PER/PBV compared to before Covid. Wait for the opportunity to accumulate more if the index moves down to the lower range in our bad case of 1,320-1,360+- points