Opportunities and Recommendations in the 2024 Thai Stock Market

Stock Exchange Capital is expected to have an opportunity to flow into the Thai stock market in 2024 after the baht tends to strengthen. and estimates that the domestic economy will grow

Brokers expect the Thai stock market to go sideways. Investment money has not flowed in yet. 7 outstanding stocks are recommended.

The Association of Investment Analysts names 4 outstanding stocks in 2024, tourism-retail strong

Mr. Sornphon Tulyasathien, Deputy Manager, Head of Corporate Strategic Planning Division The Stock Exchange of Thailand revealed that in 2024, there is an opportunity for investment to move to stock markets in the ASEAN region (ASEAN), especially the Thai stock market. Note that the baht tends to strengthen in the medium term. In addition, it is estimated that Thailand’s economy in 2024 will expand higher than expected. following the recovery of the tourism sector, exports, and domestic consumption.

In addition, analysts have adjusted their forecasts for the growth rate of earnings per share (EPS Growth) and Forward P/E in 2024 of the stock market of Thailand (SET) to a point where it is more attractive for investment than the year previous Although there are many industries in the SET with high EPS growth prospects, their valuations are still below historical averages.

By the end of December. The SET Index 2023 closed at 1,415.85 points, increasing by 2.6% from the previous month, decreasing by 15.2% compared to the end of the previous year. which in December 2023 industry groups that outperformed the SET Index compared to the end of 2022 included the technology group, the financial group, and the agriculture and food group. and consumer product groups Meanwhile, the average daily trading value in SET and that was 39,980 million baht, a decrease of 28.8% from the same period last year, with the average daily trading value in 2023 being 53,331 million baht.

However, foreign investors returned to net buying for the first month after ten consecutive months of net selling. In December 2023, foreign investors net bought 70 million baht, meaning in 2023 foreign investors net sold a total of 192,083 million baht. Foreign investors accounted for the largest share of trading value for the 20th consecutive month.

Regarding the Forward P/E of the Stock Exchange of Thailand at the end of December 2023, it was at a level of 16.7 times, higher than the average of the stock exchanges in Asia which was 13.4 times, and the Historical P/E was at a level of 19.4 times, in higher than the average of the stock exchanges in Asia Stock exchanges in Asia which was at a level of 15.0 times and dividend yield at the end of December. 2023 is at 3.21%, which is lower than the Asian stock exchange average of 3.28%.

As for the state of the futures market in 2023, the futures market (TFEX) had an average daily trading volume of 532,886 contracts, a decrease of 5.8% from the previous year, mainly due to the decline in Single Stock Futures, while the daily average SET50 Index Futures trading volume increased since last year.

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