The Thai stock market in the last 3 months is at its hottest. The two domestic factors that are clearly political, on August 16, 2024, the meeting of the House of Representatives decided to “approve” Ms. Pae Thongthan Shinawatra from the Thai Pheu Party. He is the 31st Prime Minister, as many parties would expect. Later, there was a good cause in terms of money from the “Wayupak Fund” is supporting the institute this month. Clear daily Thai stock purchases with a total value exceeding 32 billion baht. Including the announcement of a 0.25% interest rate cut by the MPC, which is the first reduction in 4 years and 5 months according to the mechanism, supporting the stock market to trade on P /E is higher.
Wathan Jitsomnuek, Director of Strategic Analysis, Phai Securities, interviewed “Krungthep Turakij” said from the news that Paetongthan Shinawatra will take over as Prime Minister on August 15, 2024, if the SET50 from that day is 817 points, which is the -currently around 942 points, changed up 15% However, during the time the Prime Minister came in Part of the market expects. The issue of stimulating the economy Including the market with confidence in Thaksin Shinawatra also because of the time that Thaksin was Prime Minister. He is considered one of the people who can manage the country well. Take Thailand out of crisis So, the market has expectations in this part.
and in the same period There is also a story about the Federal Reserve. Starting to lower interest rates. Thus making it another positive factor that helps support the global stock market. And after that the Vayupak Fund was announced. This will provide additional liquidity to the Thai stock market. which can be seen that the Vayupak Fund came into existence on October 1, 2024. The institution has already purchased more than twenty billion baht.
As a result, the market has increased by around 15% since the day Pae Thongtan Shinawatra took over as Prime Minister It is believed that the market has already heard a lot of good news. Including reducing interest rates. or various measures to stimulate the economy, leading the market into the season of budget announcements for the 3rd quarter of 2024.
“When the stock market rose 15%, we have to admit that the valuation was not cheap as the stock rose. Analysts have not revised earnings up. The fact that the profits of listed companies are still stable means that the market has not improved much.”
However, it must be admitted that Thai stock is not at a very cheap rate. Therefore, investors who have profits can share them to make some profits. Because the Thai stock is now seen that It was only dragged by a few stocks, for example DELTA is still rising strongly and before it was the GULF ADVANC stock and now Valuation the stock is not very cheap. Including starting to see cash flow flowing out. Part of this comes from the weak baht. Including foreigners, there have been speculations about Vayupak before In addition, you may have to wait to see the results of the third quarter of 2024. If they are not as expected, there may be selling pressure.
Apichat Phubunjerdkul Senior Director Strategic Analysis Department, TISCO Securities, provided additional information: During the rest of this year upside is expected to remain limited. Looking at the Thai stock index at 1,500 -1,520 points as the Thai stock index has risen, causing an upside of around 2-3%. and wait to shorten the buyback
As for SET50, it is going in the same direction, but if you look carefully you will see that GULF INTUCH DELTA stocks will be under pressure as the prices of these stocks are outperforming and making new highs. This makes mutual funds invest in these stocks. Failure to do so will remove it from the index.
However, it can be seen that the government is creating work during this period. At the end of the year there are expected to be additional measures to stimulate the economy. But during this period, investors will pay more attention to fundamentals. Because some of the bank’s group statements have started to be announced. Next week the actual group in the division will be announced. If you look at the direction of the profit estimates of listed companies, they are continuously adjusted downwards. That could change this time with limited upside. Because Enning didn’t come.
“The rest of the year remains positive. Due to various measures, the economy at the end of this year is the tourist season. with government measures and the stock market when the US election results are known There is usually an opportunity to increase. The average return is about 6% in the 3 months after the US election results are announced. In addition, other tax-deductible funds also come in, such as RMF funds, SSF funds, and TESG funds, which the market is still good at. Even the upside is limited. But you have to choose individually. Especially large stocks Groups related to tourism, consumption, hospital groups and power plants that are sensitive to interest rates and a financial group”
However, “Krungthep Turakij” has analyzed stocks in the SET50 index, which is the best stock index on the Thailand Stock Exchange In the past 3 months, which stocks have increased most? (Information from the Stock Exchange of Thailand as of 18 October 2024)
1. Gulf Energy Development Public Company Limited or GULF
- market cap 815,454 million baht
- 54.44% for 3 months
- Return from 1 month premium 24.11%
- P/E 49.84 times
- P/BV 7.06 times
- Closing price 18 October 2024 at 68.25 baht
2. Public Thai Life Insurance Company Limited or TLI
- market cap 129,385 million baht
- 3 months price return 52.70%
- Return from 1 month premium 25.56%
- P/E 12.98 times
- P/BV 1.24 hours
- Closing price 18 October 2024 at 11.40 baht
3.Intouch Holdings Public Company Limited or INTUCH
- market cap 362,356 million baht
- 3 month price return 43.04%
- Return from 1 month premium 25.21%
- P/E 25.39 times
- P/BV 8.82 times
- Closing price 18 October 2024 at 111.50 baht
4.True Corporation Public Company Limited or TRUE
- market cap 418,080 million baht
- 34.44% for 3 months
- Return from premium 1 month 12.04%
- P/E – times
- P/BV 5.02 hours
- Closing price 18 October 2024 at 11.90 baht
5. Energy Absolute Public Company Limited or EA
- market cap 32,078 million baht
- 34.37% for 3 months
- Return from 1 month premium -7.53%
- P/E 7.01 times
- P/BV 0.83 times
- Closing price 18 October 2024 at 8.40 baht
6. Muanghai Capital Public Company Limited or MTC
- market cap 113,950 million baht
- 33.54% for 3 months
- Return from premium 1 month 2.87%
- P/E 20.83 times
- P/BV 3.32 hours
- Closing price 18 October 2024 at 52.50 baht
Company 7.Delta Electronics (Thailand) Public Company Limited or DELTA
- market cap 1,571,701 million baht
- 3 months price return 32.98%
- Return from 1 month premium 21.74%
- P/E 74.80 times
- P/BV 21.21 hrs
- Closing price 18 October 2024 at 130.50 baht
8.Advanced Info Service Public Company Limited or ADVANC
- market cap 883,340 million baht
- 3 months price return 32.59%
- Return from 1 month premium 14.67%
- P/E 27.45 hrs
- P/BV 9.41 hrs
- Closing price 18 October 2024 at 282.00 baht
9.Indorama Ventures Public Company Limited or IVL
- market cap 138,679 million baht
- Return from premium 3 months 30.69%
- Return from premium 1 month 2.92%
- P/E – times
- P/BV 0.95 hours
- Closing price 18 October 2024 at 25.00 baht
10. Krungthai Card Public Company Limited or KTC
- market cap 125,694 million baht
- 3 months price return 24.20 %
- Return from premium 1 month 5.41%
- P/E 17.34 hrs
- P/BV 3.49 hours
- Closing price 18 October 2024 at 48.50 baht
2024-10-18 12:52:00
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