Follow-up on the results of the FED meeting (September 21, 2022).

last Tuesday The index moved in positive territory throughout the trading period. From buying pressure in energy and food stocks, the index rose in line with foreign stock markets. Investors following the midweek Fed meeting

As a result, the SET Index closed at 1,638.59 points, +7.02 points, +0.43%, trading value 65,130 million baht, foreign +509.25 million baht, TFEX +8,858 contracts, fixed income -1,766.38 million baht.

a positive factor

+ The US Commerce Department revealed that home construction starts jumped 12.2 percent in August to 1.575 million, the highest level in two months, from 1.404 million in July.
+ The Cabinet approved the framework and investment budget of state-owned enterprises in FY 66 with an operating limit of 1.36 trillion baht and an investment spending limit of 276 billion baht, along with recommending rapid payments – developing people – increasing management potential and reducing risk. and extending the sugar tax rate, Stage 3, for another 6 months to ease the burden of people’s living costs helping the drinks industry
+/- The Professor’s report on the epidemic situation of the Covid-19 virus. in the country today The new patient was treated in hospital. 1,129 cases, 13 deaths, 934 recovered.

negative factors

– The Dow Jones Industrial Average closed up 313.45 points, or -1.01%, as investors worried about the Fed. Interest rates are expected to rise again at a meeting that ends today US time. The market is also under pressure from signs that major US companies are being hit hard by inflation.
WTI crude futures fell $1.28, or 1.5%, at $84.45 a barrel. The strength of the dollar weighed on the market. and concerns that the Fed increases interest rates faster It will affect the economy and the demand for oil.
– The US National Security Adviser said the US did not expect the Iran nuclear deal to be reached at the UN General Assembly this week, but the US remains open to pushing for a deal from such.

– A spokesman for the Ukrainian Presidential Palace said the referendum on Ukrainian-occupied Russian territory to examine the desire of the people to leave Russia It will destroy the channel of negotiations between Ukraine and Russia.
– Russian President Vladimir Putin has called on the Russian arms industry to speed up production. Amid ongoing fighting between the Russian and Ukrainian armed forces

today’s market trend

Expect today’s index to fluctuate with intraday volatility. from investors worried that the Fed will raise another big interest rate at the meeting that ends today. Meanwhile, lower WTI crude oil prices are weighing on energy stocks. Expect the index frame today at 1630-1,645 points.

investment strategy

• More foreign patients : BH BDMS D
• Energy crisis in Europe + China starts using more coal to produce electricity : PRM VL BANPU LANNA AGE
• The Prime Minister announced criteria for BOI foreigners to own land : WHA AMATA ROJNA
• iPhone 14 Good feedback : COM7, SPVI, CPW, JMART

special report stock

MGT (reasonable price 5.70 baht)
More M&A schemes, including JV, are available.

• The company’s 2Q22 revenue was 284.9 million baht, stable QoQ but increased +30.1%YoY due to the low base in 2Q21 after being affected by the COVID-19 situation. Gross margin was 26.0%, down from 28.1% in the previous quarter and 28.9% in 2Q21 due to higher crude oil prices. affecting the cost of chemicals and rising energy costs The company had a net profit of 25.0 million baht, down -11.2% QoQ but stable YoY. The net profit of 1H22 was 53.2 million baht, which is 42.3% of the 22-year forecast.

Comments: The outlook for earnings in the 2H22-23 period is still growing well. This was driven by a continued increase in the number of orders across all products, together with the expansion of Green leaf Chemical. by gaining new customers from China, Japan and Germany. Sales are expected to come in from 4Q65-1Q23. In addition, the company has plans for M&A including additional JV We maintain our 22-23 revenue forecast at 1,027.6 million baht and 1,120.1 million baht, growing +9.1%YoY and +9.0%.

stocks have news

(+) BRR (Bloomberg Consensus – Baht) joins Jay Mart Build Buriram Model Use SINGER channels to sell products. and lending low-cost sugarcane farmers Environmental business planning Bagasse Packaging Makes Good Money, Accelerates Expansion Selling innovation to create value Biomass briquette business to start next year With carbon credits, plus 8.7 million tons, high value 20 billion, the sugarcane business with a good price this year, strong 70% (which comes in time for the stock)

(+) ANAN (Bloomberg Consensus 1.38 baht) Breathe freely after the judge who gave the case “Ashton Asoke” comments should be disregarded, stating that the project is implemented as But it is not yet considered a verdict, having to waiting for the Supreme Administrative Court to decide again, expected to take 1-2 months (source in time for shares)

(+) YGG (Bloomberg Consensus 12.40 baht) showing a full backlog of 120 million baht, ready to reveal the progress of establishing a joint venture company MYGG Chalui, identified as a developer of importing games from abroad Obviously expected in this quarter, on the other hand, Big Boss “Thanat Juwiwat” is close to closing a partnership deal for upstream business. Getting ready to step into the world market for TV series

(+) TOP (Bloomberg Consensus 66.50 baht) IPO shares priced at 53.50 baht per share from the initial price range of 52-54 baht (Source InfoQuest)

opinion We have a Neutral view on TOP’s capital increase as the share price has weakened since 18 Aug ’22. The capital gain price is close to the latest closing price and the current share to new ratio is 11.7681:1.00, which is considered The low capital gain rate limited the price impact, but the 2Q22 Weaker GRM from 1Q22 still lowers TOP earnings, so we recommend HOLD.