stock market trend today
It is estimated that the SET will change between 1,525 – 1,545 points The market conditions have no new factors to stimulate them. In addition, concerns about the US debt default on June 1 continue to pressure after negotiations to increase the debt ceiling not stop. Furthermore, crude oil prices fell by more than 3% after Russia disagreed with further production cuts. Therefore, selective buying is recommended. The group has its own positive factors, focusing on buying during the weak period.
Investment Strategy: Selective Buying
BBL KTB TTB KBANK SCB Profit trend in 2Q23 continues to grow
GFPT CPF TFG Bird Flu Detected in Brazil and Baht Devalued
BDMS BEM INTUCH ADVANC Defensive group Volatility range index
recommended stocks today
ICT (closed 24 buy/target BB Consensus 28 baht) benefited from the baht depreciation (exports 90%) Net profit is expected to have bottomed out in 1Q23, reflected in Thailand’s pet food exports in March. . Breastfeeding mom for the first time in 7 months
ACRE (closed at 4.40 buy / target 5.8 baht) is gradually building up, expecting the number of foreign tourists to pass the lowest point of the year And will start to see a recovery from June onwards, especially Chinese tourists from increasing slots for Chinese airlines from 150 flights to 300-400 flights per week starting from June 1.
Today’s Analysis
VGI (closed 3.36 buy / target 5.5 baht), Thailand Strategy
important issues today
(-) Fitch Ratings gave the US a negative rating. Debt Ceiling Resolution Delayed: Fitch Ratings Issues US Credit Watch Rating Negative And warned that it may downgrade the US credit rating, which is currently AAA, because talks to increase the debt limit have not progressed. This could lead to the United States facing a historic shortfall on its debt. If the debt limit is not increased in time, the X date on 1 June 2023
(-) Thai exports in April are expected to contract in line with negative Chinese imports: the Ministry of Commerce is scheduled to report figures. Thai exports/imports in April, as of May 26, BB Consensus is expected to contract 2.1% yoy, contracting for the seventh consecutive month as the economy of trading partners has not yet recovered, especially China, whose imports fell in April 7.9% yoy from March -1.4% yoy.
(+) Tonight, follow the US PCE Price Index to catch the Fed rate hike signal: Consensus initially expects April headline PCE to rise to 4.3% from 4.2% and expects core PCE to remain stable at 4.6 %, same as March . . (to be added to the market, the number must be equal to or below the market expectation)
