Analyst Expect the Thai stock market this morning, sideway up according to regional markets. supported by foreign capital inflows following the baht continued to appreciate And investors focus on speculating on the 3Q22 budget. The Fed meeting is expected to raise interest rates by 0.75% and follow the statement regarding the direction of interest rates in December. Ready to support at 1,605 points and 1,600 points. Resistance 1,612-1,620 points.
Mr. Kiticharn Sirisuk-archa Senior Vice President – Retail Securities Analysis CGS-CIMB Securities (Thailand) said that the direction of the Thai stock market index today sideway up according to other stock markets in the region. and was supported by the direction of foreign capital inflows following the direction of the baht appreciated.
For the Federal Reserve’s (Fed) interest rate hike in the mid-week meeting. Investors expect a 0.75% gain, not seeing a significant impact. But most will wait to follow the statement on the direction of interest rate hikes in December, with interest rate hikes expected to slow down to 0.50%.
At the same time, most investors continue to speculate on listed companies’ 3Q22 earnings that will gradually come out continuously.
Ready to provide support at 1,605 points and 1600 points, resistance at 1,612-1,620 points.
* Investment considerations
- The New York Stock Exchange (Oct 31) The Dow Jones Industrial Average closed at 32,732.95, down 128.85, or -0.39%, the S&P500 closed at 3,871.98, down 29.08, or -0.75%, and the Nasdaq closed at 10,988.15, down 114.31. point or -1.03%
- Asian stock markets opened today, the NIKKEI 225 index, the Japanese stock exchange opened today at 27,614.64 points, up 27.18 points, or +0.1%, the HSI index of the Hong Kong Stock Exchange opened today at 14,859.92, an increase of 172.9 points, or +1.18%, and the SSE Composite index of the Chinese stock market. Open today at 2,899.50 points, an increase of 6.02 points or +0.21%.
- The SET closed last (31 Oct. 65.) at 1,608.76 points, an increase of 2.69 points, +0.17%.
- Foreign investors bought a net of 4,103.13 million baht on 31 Oct. 65.
- WTI crude for December delivery (Oct 31) was down $1.37, or 1.6 percent, to close at $86.53 a barrel.
- Singapore benchmark GRM closed last (Oct 28) at $3.53 a barrel.
- The baht opened at 38.01, waiting for the midweek Fed resolution, expecting a frame of 37.90-38.15.
- Bank of Thailand canceled the relaxation of LTV measures, began to revert to the old criteria at the beginning of 566 in hopes of curbing speculation. Prevent rising household debt After finding the real estate market Starting to recover back to the same as before covid Entrepreneurs fear negative factors next year will cause the market to stall. Identify the juncture of economic recovery. Recommend stimulus measures for at least 1 year
- “Wissanu” answered the question of the law permitting foreigners to own 1 rai of land, pointing to the process of “decree” reviewing the draft ministerial regulations before submitting to the cabinet, ready to consider the problem. The total investment amount is 40 million baht. Investment period in Thailand. lean in defense “Change hands – a large plot” real estate business turbulent current Advise on setting prices for zones. The maker can increase the rental period for a long time, reduce the pressure of “treason”, suggesting sandboxing.
- The Bank of Thailand, the Thai economy in the 3rd quarter of 2022 continued to recover. The benefit of consumption and private investment has improved. OIE reveals that MPI has expanded, and the manufacturing sector has recovered. gaining export-tourism Keep an eye on the risk points next year, dragging the world economy to slow down
- The Office of Industrial Economics (OIE) has reported the Industrial Production Index (MPI) in September, showing a growth of 3.36%, while in the third quarter (Jul-September) grew 8.06. % resulting in the first 9 months of this year MPI grew by 2.83%, ensuring that the full year MPI will be above the target of 1.5-2.5% and believe that 2023 will definitely be higher than this year. This is because the main export markets, including the US, ASEAN and the European Union (EU) have continued to expand well. while the tourism sector expanded well. As a result, tourism-related products expanded well as well. including the government’s economic stimulus activities while the growth rate of the gross domestic product of the industrial sector Or industrial GDP is expected to grow 2-3% this year and next year will expand as well.
- “Secretary of the Treasury” urged to consider measures to stimulate the economy Hoping as a New Year’s gift for Thai people, encouraging “good shopping, have a night” pointing out that it’s interesting. Reasons to encourage wealthy people to spend But you have to look at the timeline and the government’s revenue projections.
* Today’s featured stocks
- Asian Alliance International Public Company Limited (AAI) trades in SET today, IPO price of 5.55 baht, is a subsidiary of ASIAN, is a manufacturer and distributor of pet food and ready-to-eat food in sealed containers. and tuna by-products such as fish broth, fish meal and fish oil, 90% of which are exported overseas under contract manufacturing (OEM), 97% of revenue, and own brands such as Monchou, Maria Hajiko and Pro. 3% of income
- BBL (Kingsford) “BUY” with target price IAA Consensus Bt169.00 Reports 3Q22 net profit of Bt7,657 million (+10.8%YoY, +10.0%QoQ). ECL set aside Bt9,889m (+0.2%YoY, +18.4%QoQ) but supported by net interest income Bt26,496m(+28.0%YoY, +12.6%QoQ) from higher loan amounts. Meanwhile, the 4Q22 outlook is expected to remain favorable as the provision is already set aside in 3Q22 and economic activity is recovering. Expect net profits to grow at 30,570 million baht (+15.33% in 2Q22). YoY) and 34,837 million baht (+13.96%YoY), respectively.
- CENTEL (Krungsri) “Buy” IAA Consensus target of 55 baht, expecting TAT to propose measures for us to travel together The Cabinet considers today as a positive sentiment for hoteliers with a proportion of domestic income. while the restaurant business will have a positive effect from the World Cup.
By InfoQuest News Agency (01 Nov 65)
Tags: Kiticharn Sirisukarcha, stock market, Thai stocks
