© Reuters (Additional) Thailand’s stock market state: Morning index trend sideways changes by region. Keep an eye on the vote to expand the US debt ceiling – MPC.
InfoQuest – Mr Weerawat Wirojpoka, Director of Securities Analysis of the Securities Department of Finansia Syrus, said that the Thai stock market this morning is expected to swing sideways in the range. It is in line with other stock markets in Asia. start to shrink In general, there are no supporting factors in the short term. Investors are still watching the US Congress prepare to vote on a bill to increase the debt ceiling tonight.
while in the country Keep an eye on the Monetary Policy Committee (MPC) meeting today to decide whether interest rates should be raised by another 0.25%, as expected or not. Including the Bank of Thailand’s (BOT) revised economic forecast after yesterday’s export numbers contracted and the establishment of the government may be delayed
Set the support at 1,520 points and the resistance at 1,540 points.
Investment Consideration
– New York Stock Exchange (May 30), the Dow Jones Industrial Average closed at 33,042.78 points, down 50.56 points or -0.15%, the S&P500 index closed at 4,205.52 points, up 0.07 points or +0.0027% and the Nasdaq index closed at 13,017.43 points , an increase of 41.74 points or +0.32%
– Asian stock markets open today The Hang Seng Index, Hong Kong Stock Exchange, opened in the morning at 18,415.00 points, down 180.78 points or -0.97%, while the Shanghai Composite Index opened in the morning at 3,214.66 points, down 9.55 point or -0.30% and the Nikkei Index opened. market at 31,057.09 points, down 271.07 points or -0.87%
– The Thai stock market last closed (May 30, 2023) 1,534.81 points, down 6.16 points (-0.40%), trading value 46,658.70 million baht.
– Foreign investors sold a net of 2,927.54 million baht on May 30, 2023.
– WTI delivered in July (May 30) fell 3.21 or 4.42% to close at $ 69.46 / barrel.
– Refined GRM, a reference to the Singapore market, which last closed (May 30) at $4.22/barrel.
– The baht opened at 34.64, returning to appreciate from selling pressure on the dollar. Keep an eye on the MPC indicating the direction of interest rates
– In the future, join parties to form a Transition Team, change policies, set guidelines, solve problems, and move forward to resolve the heat. Move 4 important policies on high speed rail contracts connecting three airports diesel fuel tax minimum wage Reduce electricity bills by another 10 satang Prepare to travel to meet relevant sectors, including Capital Market Council, NESDB, Budget Office, ready to move forward with the zero base budget. Confirm not to touch the reserve.
– “Sirikanya”, Deputy Leader of the Progressive Party Prudent must collect capital gains tax “stock tax”, while LTF funds will not bring it back yet. repeats that he disagrees with the stock tax attention to the fact that the Asian stock market has nowhere to store And in Thailand, there is a tax on capital gains at the level of a lawyer. and dividend tax of 10% already
– Business hopes for the second half of the year, “Politics” disappears, the economy moves forward, Supalai-MG confirms that the investment roadmap has not changed. In closely monitoring the situation, “Suphawut Saicheua” shows that the economy is still difficult to recover. Banks are cautious about lending – businesses are slowing investment, keeping an eye on “bad debt” problems waiting to explode, revealing first quarter earnings figures, “falling profits”, production costs and expenses increase. The Bank of Thailand pointed out that businesses had “reduced” profitability.
– Bangkok deduction treasury, land and construction tax complex Insist not to use obsolete laws after “Chatchart” announced the new government Review the conclusion, send a signal, return to the old law.
– Scholars analyze the zero-based budget policy, noting that it is difficult to implement and not suitable for the national budget management system. just run the company The Chamber of Commerce is discussing “Pita Limcharoenrat” on May 31, fearing delays in the budget. Construction shows that major projects require budgetary commitments.
– “Supattanapong” clearly repeats still taking care of diesel prices Although the Ministry of Finance does not renew the excise tax on July 20, it reveals that if the world oil price suddenly rebounds, the it will be presented to the Cabinet and the Election Commission of Thailand according to the status of the interim government. Although the policy to reduce electricity bills at 70 satang per unit depends on the decision of the ERC.
* Today’s Best Stocks
– GFPT (Krungsri) “Buy”, the highest consensus target of the IAA is 15.90 baht, with a positive signal, the domestic chicken price has risen to 46-48 baht per kg, or about 10% increase from the average of 40.75 baht per kg In 1Q23, frozen chicken exports in April rose 42% yoy
– ILINK (Kingsford) “BUY”, IAA Consensus target price 10.00 baht, 1Q23 net profit at 127 million baht (+51% YoY, +4% QoQ), driven by the trend in Solar Cell by installing solar panels, LINK equipment and cable brand, including revenue from the project business from the gradual recognition of important backlog projects such as the construction of a 33 KV submarine cable, Koh Tao, Surat Thani Province. for the next period of operation It is expected to continue to benefit demand in the cable group. On the project business, the company recently won the lowest bid for the construction of a 115 KV submarine cable system to Koh Samui worth more than 1,800 million baht from PEA, 470 million baht (+23% YoY) and 491 million baht (+ 4%YoY)
– NSL (Syrus Finance) “BUY”, target price 26 baht, 2Q23 expected profit, hopes to make a new high at 82 million baht, +9% qq, +2% yy, driven by good revenue growth.Back 7- SSSG 11 of High Season and the launch of new products for sale at 7-11, including recognizing full quarterly revenue from Bake and Wish, including increasing main product prices by 7%, helping to offset the rising cost of cheese, and making ‘r Gors Gros remains high on the issue of raising wages If we consider only workers who receive the minimum wage and raise 10%, it would only affect profits by 1.7%, which is quite limited. We maintain our full year profit forecast for 2023 at Bt343mn +15% pa.
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