‘Thai stocks’ weaken today, support level 1,600 – 1,605, concern about FED accelerating rate hike

Analysts at Krungsri Securities (Krungsri Securities) have assessed the “Thai stocks” index today (10 March 2023) weakening to the support range of 1,600 – 1,605 points. The market is still under pressure from concerns regarding the FED accelerating interest rates. to curb high inflation As a result, foreign fund flows tend to continue to flow out. In addition, slumping crude oil prices on demand concerns will be negative for energy sectors and indexes. Therefore, selective buy stocks with unique positive factors are recommended as before.

Today’s investment strategy: GPSC BGRIM GULF ROJNA SCGP SCC TASCO by virtue of weakening energy prices. While the shipping group PSL TTA bulk freight rose and BEM BTS BDMS BCH INTUCH ADVANC Defensive group volatile indices.

Today’s important issues to follow

(+) The power plant group has good news that the government is open to buying more electricity from renewable energy: the National Energy Policy Council (NEPC) has approved to buy electricity in the form of Feed-in Tariff (FiT) in the year 2022-2020. Add another 3,662 MW following the ERC has opened for the first round of purchase of 5,203 MW and purchased more electricity from renewable energy according to the PDP2018 plan 2021-73 from 10,000 MW to 12,700 MW.

(+/-) Nonfarm payrolls set US interest rates: US will publish February nonfarm payrolls and unemployment rate on Friday. down from the month Jan, an increase of 5.17 hundred thousand positions, while the unemployment rate remained stable at 3.4% (employment numbers must be lower than expected to reduce pressure on the Fed to raise interest rates).

(+/-) FOLLOW US CPI FEBRUARY NEXT WEEK: In addition to the job market numbers we’ll be following tonight. Next week, there is another factor to watch, which is the US February inflation rate. Consensus initially expects the headline CPI to be 6.2% from 6.4% and the core CPI is expected to remain stable at 5.6%.