© Reuters (Additional) Thailand stock market condition: SET index tends to change in the range, although the US debt ceiling rises, but Fund Flow continues to flow out.
InfoQuest – Mr. Apichart Phobanjerdkul, CISA Senior Director Strategic Analysis Division, TISCO Securities said that the trend of the Thai stock market today is expected to swing within the range. Although there has been some progress in negotiating an extension to the US debt ceiling. There are discussions to limit the budget for spending on projects that Congress will approve annually. (Discretionary Expenditure) not exceeding 70 billion US dollars. Causing concerns to expand the debt ceiling some relief
However, there are still factors that pressure fund flows out of uncertainty at the Federal Reserve meeting next month, there is still an opportunity to raise interest rates. As a result, the yield of 10-year US government bonds (Bond Yield) increased to 3.8% and affected the appreciation of the US dollar. Cause the direction of foreigners to be able to continue selling
Other stock markets in Asia this morning turned positive and negative.
with resistance of 1,545 points and support of 1,530 points
Investment Consideration
– New York Stock Exchange (May 25), the Dow Jones Industrial Average closed at 32,764.65 points, down 35.27 points or -0.11%, the S&P500 index closed at 4,151.28 points, an increase of 36.04 points or +0.88% and the Nasdaq index closed at 12,698.09 points , rising 213.93 points or +1.71%
– Asian stock markets opened today, the NIKKEI 225 index, the Japanese stock market opened today at 30,909.61 points, an increase of 108.48 points or +0.35% and the SSE Composite Index, the Chinese stock market opened today at 33,198.88 points, a decrease of 2.38 points or -0.07 %, while the Hong Kong stock market closed. Working today (26 May) on the occasion of Visakha Bucha Day
– The Thai stock market last closed (May 25, 2023) 1,536.51 points, 1,535.42 points, down 1.09 points (-0.07%), trading value 48,513.80 million baht.
– Foreign investors sold a net of 2,822.86 million baht on May 25, 2023.
– WTI delivered in July (May 25) fell 2.51 or 3.38% to close at $71.83 / barrel.
– Refined GRM based on the Singapore market which last closed (May 25) at $4.24/barrel.
– The baht opened at 34.74, tending to depreciate after US economic data supported the appreciation of the dollar.
— Battle for the Presidency of the House of Representatives Between Kao Klai Party and Thai Pheu Party Reply to @MrBeastYT Until it is close to the day when the Electoral Commission (ECT) certifies 95% of the election results, which will be able opening a meeting of the House of Representatives, at this time there is time to fully discuss important positions.
– Trade, negotiating commercial-private ambassadors Proceeding with export plans in 7 regions, a total of 350 activities, pushing export figures up in the second half of the year Set a full year target to return to 1-2% positive The private sectors worried about the fluctuations of the baht. Minimum wage increase affects production costs Confident that export value has bottomed out
– “Small debtors” are worried, the credit bureau notes that late debts of “Gen YX” rise to 500 billion, fearing spread to bad debt. Worried about car-home debt, rising to 3.5 billion baht, most of them in state banks made a new debtor contract from the impact of rising interest rates
– The Vice Chairman of the Council of Employers, Traders and Thai Industry Organization (Econ Thai) revealed that the council wants the new government to consider step by step and carefully when raising the minimum wage. Because if it suddenly rises to the level of 450 baht / day, the Yingluck government will repeat the past, which raised wages to 300 baht / day throughout the country in 2013, causing the production base to relocate in Thailand to’ the country Big neighbors and new investments That stresses a lot of labor, it won’t happen again.
* Today’s Best Stocks
– ITC (Krongsri) “BUY”, BB Consensus target at 28 baht, benefiting from the baht depreciation (exports 90%). Net profit is expected to have reached its lowest point in 1Q23, reflected in pet food exports from Thailand in March, which increased for the first time in 7 months
– AUCT (Kingsford) “BUY”, IAA Consensus target price of Bt12.20, 1Q23 profit of Bt96mn, stable QoQ but +112%YoY growth, driven by higher auction fees and auction car volumes. since the end of measures to help debtors during COVID since the middle of last year As a result, the number of seized vehicles increased. The short term could see a QoQ slowdown in 2Q23 due to the high holiday season. But it should return to expand well again in H2 / 23 in line with the NPL trend in the system The market expects profit in 2023 at 284 million baht +13%YoY and 2024 at 304 million baht +7%YoY.
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