Globlex Securities (GBS) estimates that Thai stocks will fluctuate this week from higher-than-expected inflationary pressures. So put the index movement frame 1,550-1,600 points, and recommend a strategy to invest in stocks that benefit from export volumes in August 65, growing well from the devalued Thai baht, with 6 outstanding stocks BRR-KSL-TFG- GFPT-ASIAN- JUBILE worth investing in
Ms. Wilasinee Boonmasungsong, Research Director Globlex Securities Company Limited (GBS) assessed the direction of the Thai stock market this week to range volatility. The pressure came after the US released core inflation (PCE) data, which excludes food and energy categories, in August. They were up 4.9% YoY and 0.6% MoM, beating analysts’ expectations of 4.7% YoY and 0.5% MoM after being flat in July. Furthermore, the outlook for Credit Suisse’s five-year CDS yield has hit a 10-year high, undermining investor confidence. while executives accelerate to gain the confidence of major customers
The Russian-Ukrainian war continues after Russian President Vladimir Putin signed a decree certifying the independence of Zaporizhia and Kherson. which are two regions in southern Ukraine that Russia has partially occupied. Ukraine announced that they had fully recaptured the transfer center east of the city of Luman. The Chinese stock market is closed for a long holiday, causing fund flow for foreign investors to be lighter. Therefore, the movement of the index is predicted in the frame of 1550-1,600 points.
In terms of factors that still need to be watched, for example, on October 4, the Exporters Council announced the export situation on October 5, the Ministry of Commerce announced the Trade and Economic Index, on October 7, the meeting of the Joint Committee of organizations 3. Private Sector (Kor. Kor.) and on October 26-29, Thailand hosted the 30th Annual Meeting of the Asia-Pacific Parliament and foreign factors such as October 5, the OPEC Plus meeting on Manufacturing Policy, the Final Reports of the EU Index of Purchasing Managers of Services (PMI) for September from S&P Global, private sector employment data for September from ADP, imports, exports. The August trade balance was published
Therefore, recommend investment strategies that benefit from the cancellation of the Emergency Decree to control the spread of the COVID-19 virus, effective October 1, 2022, which will benefit the tourism industry. along with entering peak season at the end of the year and ongoing tourism promotion campaigns such as cheap airline tickets Stocks that benefited were ERW, CENTEL, VRANDA, ASAP and SPA, as well as those that benefited from August exports showing strong growth from a weak baht, including sugar, frozen chicken, gems and jewellery. Shares that profited are BRR, KSL, TFG, GFPT, ASIAN and JUBILE.
As for the investment direction in gold, Mr. Nattawut Wongyaowarak Research Director of Globlex Securities said that this October is still an important issue in terms of gold. Because late last month, the Bank of England returned to buying government bonds in an unlimited amount. This was due to the need to stabilize the bond market and the domestic financial market. As a result, the dollar index began to weaken. Such events create volatility in the gold price in the short term. But at the start of the month, the factors the market was watching were the US labor sector and inflation. If it is higher than expected, it could be a factor for the Fed to accelerate its policy rate hike at its next meeting.
Therefore, the research department estimates that the gold price remains low to build a base. Gold could be sideways in the frame of 1600-1,700 $/oz, rebounds are limited. while the market remains under pressure Therefore, it is recommended to trade in accordance with the framework provided.
