Thai ​Stock Market Expected ‍to Swing Sideways Today

InfoQuest News Agency (13 ⁣Sep ’24)

Analysts predict the Thai stock market⁤ to fluctuate sideways today, maintaining an upward trend driven by fund inflows and ​a strengthened baht. The market also anticipates the US Federal Reserve to continue cutting interest rates, following⁤ the release of the US economic report.

Mr. Weerawat Wirojphoka, Senior Director ⁣of the Securities Analysis Department of ‌Investment Advisory Securities (BLP) FSS International Company Limited, stated that the Thai stock market’s trend today is expected​ to vary sideways within the framework. However, ⁣it can also be a picture of an upswing, driven by the direction of money flowing in (Fund Flow) from the ⁤strengthening baht.

The investment‍ climate is starting to relax, following the⁣ release of the US economic‍ figures. ⁤This ⁤has caused investors to start giving more‌ weight to​ the reduction of the interest rate of the ​Federal Reserve of the United States⁤ (Fed) this year ⁣to 0.50%. Domestic factors are still ​waiting to see the ‍economic stimulus‍ measures come out, following ⁣the first Cabinet meeting next week.

Market Analysis

Provides resistance at 1,435 points, support ​at 1,415 points.

Investment Considerations

– ⁢New York Stock Exchange (12 September 2024) ⁤The Dow Jones Industrial ​Average ⁣closed at 41,096.77 points, an increase of ‍235.06 points or +0.58%, the S&P 500 index closed at 5,595.76 points, an increase of 41.63 points or ‍+0.75%, and the ⁢Nasdaq index closed at 17,569.68 points, up 174.15 points or +1.00%.

– Asian‍ stock markets open today.‌ The Nikkei Index of the Tokyo Stock Exchange opened at 36,882.41 points, an increase of 49.14 points or +0.13%, the Shanghai Composite Index of the Chinese Stock ⁤Exchange ⁢opened at 2,718.99 points, ⁢an increase of 1.87 points or +0.07%, and ⁤the Hang Seng Index of the Hong Kong Stock Exchange opened at 17,298.35 points, an increase of 57.96 points or +0.34%.

– The Thai stock market closed most recently (12⁤ September 2024) at 1,421.58 points, an increase of 6.17 points (+0.44%), ‌trading value 47,509.74⁢ million baht.

Featured Stocks

– TOA (Kingsford) recommends “Buy” with a Bloomberg Consensus target of 25.20 baht, H1 / 67 net profit ⁤at 1,281 million baht -6.72% (YoY from ⁢higher marketing and advertising staff ‌costs. Including asset sales⁤ and ⁢factory relocations in Malaysia In the next period, although Q3/67 may weaken‍ QoQ according to the season, it is expected to recover well in⁣ Q4/67, supported ⁢by the season – repairs after the flood. Still‍ interesting from being a stock in SET100, SETESG ESG Ratings Level A. The market expects profits​ in 2024-25 ‍at 2,496 million⁢ baht (-5.34%YoY) and 2,673 ⁤million baht (+7.09%YoY).

– AURA (Kasikornthai) recommends “Buy” at a base price of 18.48⁤ baht, a trend of continuous growth. especially gold loans and‍ gold retail Expanded strongly because⁢ demand was higher than target. Gold prices are expected to remain high as macroeconomic trends support them. Fed interest rate cuts and geopolitical tensions ‌The company ⁢also plans to diversify ​its sources of capital by issuing bonds this year to increase liquidity and support the expansion of its loan portfolio. Including the​ opportunity ⁤to ‍increase the gold premium to support long term profit potential. The stock price is still 32%​ below its all-time ​high of 20.3 baht despite continued strong profits.

– MINT (Pie) recommends ‌”Buy” with a‌ target​ price of 36 ⁣baht 1.‌ Opportunity for growth ‌on a strong business network. and ⁤variations in pubs,⁤ the net profit margin ‍is ‌lower than the​ group average⁣ 2. Gross profit margin (GPM) tends⁤ to grow from the Assets Light business push plan 3. Benefits of tourists recovering ‍in Europe (ETC). Tourist spending in 2024 increased +14% YoY and 4. Interesting stock value: EV/EBITDA at 6x,⁣ the 2nd lowest in ⁣the tourism ⁢sector, while PE trades at⁣ 20x.

By Jirayut Chansongsakul/Sasithorn Simaporn