Editor’s Picks, Stock News 8:52 a.m. 2024-01-11
Mr. Weerawat Wirojphoka, Director of Securities Analysis at Finansia Syrus Securities, said that the Thai stock market this morning is expected to swing sideways. Receive benefits from foreign sentiments that look better. This is a characteristic of a rebound after last week’s downturn and investors expected approval of the Spot Bitcoin ETF, which was approved last night after the market closed as expected. But the positive framework of the Thai stock index may not be that wide. Because investors are waiting to follow the US CPI numbers tonight. Meanwhile, domestic issues mainly follow the development of the Digital Wallet project.
While investing today, we think that the group that is likely to see strong sentiment right now is the hospital group. Meat and Power Plant Group that is likely to gradually improve
The support index is 1,410 points and resistance is 1,420 points.
Investment consideration issues
– New York Stock Exchange (10 Jan.) The Dow Jones Industrial Average closed at 37,695.73 points, an increase of 170.57 points or +0.45%, the S&P 500 index closed at 4,783.45 points, an increase of 26.95 points or +0.57%, and the Nasdaq index closed at 14,969.65 points, an increase. 111.94 points or +0.75%
– Asian stock markets open today. The Hang Seng Index of the Hong Kong Stock Exchange opened the morning session at 16,154.17 points, an increase of 56.89 points or +0.35%, and the Shanghai Composite Index of the Chinese Stock Market opened the morning session at 2,873.80 points, a decrease of 3.90 points or -0.14%, while the Nikkei Index The market opened at 34,871.33 points, up 429.61 points or +1.25%.
– The Thai stock market closed most recently (10 Jan.) at 1,413.52 points, down 1.41 points (-0.10%) in trading value. 45,472.82 million baht
– Foreign investors sold a net amount of 1,807.05 million baht (10 Jan.)
– The price of WTI crude oil for delivery in February (10 Jan. 2024) decreased 87 cents or 1.2% to close at 71.37 dollars/barrel.
– The Singapore market’s reference refining margin last closed (Jan. 10) was at $6.57/barrel.
– The baht opened at 35.08, depreciating from yesterday. Markets keep an eye on US economic and inflation data tonight.
– The US Securities and Exchange Commission (SEC) has approved the establishment of Spot Bitcoin ETF, which is the first such establishment in the US. Information posted on the SEC’s website on Wednesday (Jan. 10) indicates that the SEC has approved 11 funds to set up Spot Bitcoin ETFs.
– ‘Seththa’ respects independence and does not interfere with the BoT regarding interest rates, pointing out that it has no authority to order. Just make an appointment to talk and exchange economic information. Ready to make an appointment to talk every week, ordering the SEC Treasury to supervise high-risk bonds. Provide information to build confidence among ‘foreign’ citizens flocking to buy long bonds in anticipation of lower interest rates. The FTI points out that policy interest rates are already at their highest point. If the Fed cuts interest rates, they should immediately follow suit. Looking at the Thai economy this year expanding 2.8-3.3%, reducing the inflation range to 0.7-1.2%
– “Fetco” reveals investment confidence index for the next 3 months rising to 38.9%, indicating negative inflation is not a concern, confident that the Thai economy will grow 3-4%, along with revealing 4 investment themes and 4 short-term challenges for 2024, “ The World Bank assesses that the global economy in 2024 is likely to be the worst in 30 years, emphasizing that if it is not resolved, the “2020s” are likely to become a decade of wasted opportunities.
– Retail sales in the first quarter “positive signs” received support from the New Year festival. Children’s Day, Chinese New Year, Valentine’s Day, the government injects measures to attract tourists to shop with tax deductions. Get a chance to spend ten thousand baht in digital currency. “Central Pattana” is confident in creating a lively shopping atmosphere, with Chinese New Year spending worth 15 billion, revealing a visa-free policy. Stimulate Chinese tourists into Thailand by over 10,000 per day, strengthening purchasing power.
– The FTI agrees that the government should establish a fund to support business loans for high-risk entrepreneurs. By allowing the government to support funding for establishment in the first period. After that, the interest or money will be used to manage circulation in the fund. To help SMEs have security in accessing credit.
– The Energy Regulatory Commission announces electricity prices for January-April. 2024 is new at 4.18 baht/unit, chicken eggs will increase another 30 satang on 11 Jan.
– The Stock Exchange (SET) extends the period for listening to opinions (hearing) on improving the Cash Balance criteria or trading securities with cash after applying T+2 to all types of customers for equality until 24 Jan. 2024.
Today’s top stocks
– GULF (IRA) “Gradually buy and accumulate” with a target of 47.00/50.00 baht, expected to receive support from an increase in the Ft value for the period Jan. – Apr. 2024, coming out close to what the market expected, 4.18 baht/ Margin units of SPP power plants have recovered. Technically, prices have spiraled upwards, raising new lows in the short-term picture. Along with the trading volume has begun to increase. While the technical tools MACD and SSTO give buy signals, support level 44.50 / 44.00 Stop < 43.75
– AP (Krungsri) “Buy” target IAA Consensus 14.40 baht, gradually accumulating to receive dividends at the end of the year, which AP pays once a year for a high Dividend yield of 6-7% per year. Profit trend is still high all time for both 2020 and 2021. Presale sales 4Q23 hit a record high of 16 billion baht, increasing 38%qoq and 24%yoy.
– TOP (Maybank) strategic target 60.00 baht, GRM direction is at a good level. Tensions in the Red Sea have made it more difficult to transport oil products from Asia and the East to Europe, and Saudi Aramco has announced a reduction in its average selling price (OSP) for Arab Light in February by $1.5-$2 to reduce oil prices. Maintain market share. Evaluate the above 2 factors that will affect the refining margin (GRM) to remain stable at a high level. We expect this year’s refining margin to be at $7 per barrel, which will be positive for TOP. We have adjusted our 2024E profit forecast by 55% and raised our target price to Bt60 to reflect lower costs related to oil spills. (from USD 2 per barrel to USD 1 per barrel)
By InfoQuest News Agency (11 Jan. ’24)
Tags: SET, stock market, Thai stock market, Thai stocks
2024-01-11 01:52:17
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