stock market trend today
The SET was estimated to range between 1,610 and 1,630, with the index receiving positive sentiment from stock markets across the country surging in response to higher-than-expected US consumer confidence. At the end of the year, however, fears of a recession, including contraction in volumes during the Christmas-New Year period, will push the index to weaken.
Investment strategy: selective buying
COM7 CRC CPN HMPRO GLOBAL DOHOME REFERENCE MEASURES “Buy well, spend an evening”
Target stock for window dressing ADVANC KBANK IVL KCE TU JMT
BEM BTS BH BDMS BCH INTUCH ADVANC Defensive group during market volatility
recommended actions today
CENTEL (closed at 49.75 buy/target IAA Consensus 54 baht) expects cabinet to reconsider We Travel Together Phase 5 measures on Dec 27, this is good for hotel operators with high income share in the country
ap (closed at 11.40 buy/target 14.30 baht) We selected it as the top pick of the group with strong net profit growth. Pay dividends consistently for high dividend yields (paid once a year). Initially, the DPS is expected to be 0.65 baht this year, with a dividend of 5.7%.
Today’s analysis
CKP (closed 4.64, downgraded to sell/new target 4.12, previously 5.5)
important issues today
(+) US Consumer Confidence Recovers; PCE price index falls as expected: The University of Michigan consumer confidence index rose to 59.7 in December from 56.8 in November, and was a high. November’s PCE fell to 5.5% from 6.1% in October and core PCE fell to 4.7% from 5%, sending the Dow up 176 points.
(-) Thailand exports/imports in November, not so good: Preliminary consensus exports in particular are expected to contract by 5.2% year over year, a sharp contraction from 4.4% in October. the second month in a row due to a slowdown in the economy of trading partners, especially China, which closed the country from COVID-19)
(+) Stimulus measures, We Travel Together Phase 5. Still pending: The We Travel Together Phase 5 measure, which was postponed from last week’s cabinet meeting, is expected to be carried over to the next cabinet meeting. Again this week ( Dec 27 ’22) is Sentiment plus national income focused tour groups such as ERW and CENTEL.
