© Reuters. (Additional) Thai stock market conditions: Morning indexes continue to rise, hoping to set up a cabinet to speed up economic stimulus plans, but fears the Fed will keep interest rates high.
InfoQuest – Mr. Narongdej Chantaraphaisan, Director of Securities Analysis Department, AIRA Securities, said that the trend of the Thai stock market this morning There is a chance to continue rising from 20 points yesterday, but the upside may be limited. With domestic factors, the market expects that the establishment of the cabinet will be successful. and issued policies to stimulate the economy, resulting in positive sentiment
But external factors worried investors the Federal Reserve. The Federal Reserve (Fed) raised interest rates and maintained interest rates high after some Fed chairmen pushed rates amid high inflation and S&P Global Ratings (S&P) downgraded the credit ratings of several regional banks in the US. United States As a result, the Thai stock market has limited upside.
The first resistance is 1,550 points, the next resistance is 1,563 points, and the support is 1,536, 1,527 points.
*Investment Considerations
– New York Stock Exchange (August 22), the Dow Jones Industrial Average closed at 34,288.83 points, a decrease of 174.86 points or -0.51%, the S&P500 index closed at 4,387.55 points, a decrease of 12.22 points or -0.28% and the Nasdaq index closed at 13,505.87 points, an increase 8.28 points or +0.06%
– Asian stock markets open today The Nikkei Index, the Tokyo Stock Exchange, opened at 31,717.91 points, down 138.8 points or -0.44%, the Hong Kong Stock Exchange’s Hang Seng Index opened at 17,762.76 points, down 28.25 points or -0.16% and the Shanghai Composite Index, the Chinese stock market opened. at the level of 3,116.27 points, down 4.06 points or -0.13%
– The Thai stock market last closed (22 Aug. 23) 1,545.60 points, an increase of 19.75 points (+1.29%), trading value 71,924.04 million baht.
– Foreign investors bought a net of 593.95 million baht on August 22, 2023.
– WTI for September delivery fell 37 cents, or 0.5%, to settle at $80.35/barrel.
– Refined refining margin in Singapore last closed (Aug. 22) at $ 13.61 / barrel.
– The baht opens at 35.02, the trend is volatile, keep an eye on the direction of flow – Fed chairman’s statement
– The parliament voted “Srettha Thavisin” as the 30th Prime Minister of the 11-party coalition government, moving forward with urgent policies. Pinning measures to stimulate business in the second half of the year Giving away 10,000 baht of digital money, negotiating 20 baht of electric trains throughout the line, paving the way for a wage increase of 600 baht, a bachelor’s degree of 25,000 baht, revitalizing tourism for 3 trillion, 2 uncles’ parties, 76 voices, insisting on the elderly allowance must be universal, at least 1,000 baht. Pheu Thai is expected to control mega transport projects The tourism group wins the Minister from Bhumjaithai to continue working “Supachai Chearavanont” to reform education.
– Mr. Arkhom Termpittayapaisith, Minister of Finance, revealed the economic situation in China that There is a lower growth than expected by many agencies. The estimates of the Fiscal Policy Office or FPO are seen to have some impact on Thailand. especially about Exported from Thailand to China, which in ’66 Thailand exported a lot to China. Especially in the category of food, fruits such as durian, etc., but incidentally, the Thai side of this year produces less.
– The Bank of Thailand disclosed about the credit of the commercial banking system in the second quarter of 2023 that the commercial banking system was stable and stable. In the second quarter, commercial banking loans contracted slightly by 0.4% due to the gradual repayment of corporate debt. after accelerating continuous expansion to enhance liquidity during the COVID period Especially the repayment of SME loans. Including soft loans and the government sector, while some large businesses raise funds through the issuance of debt securities, together with the management of debt quality of commercial banks.
*Today’s Top Stocks
– CPALL (BK:) (Kingsford) “Buy”, target price 72.50 baht, 2Q23 net profit of 4,438 million baht (+47.75%YoY, +7.66%QoQ) from convenience store revenue7 -11(+16%YoY, +8%QoQ) driven by increased travel traffic exposure to tourists election spending and hot weather plus beverage products
As for the next half of the year 2023, we expect it to be better than the first half from 1. The recovery on the tourist side (peak in Q4), 2. Interest burden after CPAXT refinance is completed, and 3. Electricity tariffs for the period Sep.-Dec. 0666
– CK (Kasikorn Thai), basic price 30.25 baht, looking at the company’s operating results with high growth prospects We expect earnings to grow 37% this year and 88% next year. We estimate the company will have a record backlog of more than Bt200bn by the end of the year, higher than 2012’s high of Bt118bn.
– BCH (Krungsri) “BUY” with a target of 20 baht, gradually accumulating into the high season of business during the rainy season. There are many outbreaks of diseases such as dengue fever, influenza and foot-and-mouth disease in children. positive for domestic patient-focused entrepreneurs
Click to read the original news from InfoQuest.
2023-08-23 20:40:53
#Additional #Thai #stock #market #conditions #Index #trend #morning #continues #rise #hoping #set #cabinet #accelerate #economic #stimulus #plan #fears #Fed #interest #rates #high #InfoQuest
