Thai Inventory Market Forecast: CGSI Securities Predicts SET Index to Vary Between 1,315-1,350 Factors Amid US Charge Speculations

HoonSmart.com >> CGSI Securities: INDEX SET as we speak Aspect within the vary of 1,315-1,350 factors The US inventory market ends within the purple, following as we speak’s MPC assembly, anticipating “fixed” rates of interest and assembly Fed tomorrow, persevering with the signal of. rate of interest course It’s anticipated that there might be a pattern of rate of interest cuts in September. Really useful shares “KBANK-CRC”

Development Spotter’s CGS Worldwide Securities (Thailand) or CGSI summarizes international inventory markets and the course of the Thai inventory market as we speak (21 August) as follows:

• Market overview: US inventory market Closed barely (DJIA Index -0.15%, S&P500 -0.20% and Nasdaq -0.33%) after traders slowed buying and selling. Forward of the annual assembly of the Federal Reserve (Fed), which begins tomorrow (22-24 August), which is able to embrace a speech by Jerome Powell, Chairman of the Fed, the market is anticipated to proceed Alerts concerning the course of US coverage rate of interest changes There the market expects that The Fed is more likely to minimize rates of interest in September. This causes the greenback to weaken and is an element that helps the value of gold to swing above the $2,500 degree.

The US buying and selling market Beneath strain from power shares which fell -2.65% after oil costs fell about 1% as a result of 1) the conflict scenario between Israel and Iran has eased. In consequence, market considerations about oil provide have eased and a couple of) the economic system in China has led to weaker gasoline demand.

• SET Index: The SET Index is anticipated to maneuver sideways within the 1,315-1,350 vary The Thai inventory market will obtain assist from the strengthening baht. From extra funding capital from international traders coming in after 1) Eurozone CPI numbers for July had been according to market expectations at +2.6% yoy, main the ECB to possible minimize rate of interest the coverage and a couple of) The Market expects the Fed to chop rates of interest in September.

At this time, keep watch over the MPC assembly. The MPC is anticipated to “keep” rates of interest after GDP numbers in 2Q24 broaden / see the influence of the brand new authorities’s financial stimulus measures.

With the load of the baht depreciating much less The tone of the assembly is more likely to be Dovish and the market awaits the MPC’s opinion on decreasing rates of interest.

• Really useful shares

KBANK : KBANK has essentially the most aggressive gross sales and NPL administration methods among the many Thai banks we studied. This could trigger KBANK to have a decrease mortgage loss reserve ratio in FY25-26 and result in robust EPS development at a price of 9.5-12.2% in FY25-26.
(Take revenue : 145.00 / Cease loss : 136.00)

CRC : CRC had a normalized working revenue of 1.57 billion baht (-8.8% yoy, -37.9% qoq) in 2Q24, which was 6% under our estimate and the Bloomberg consensus attributable to larger taxes paid. We anticipate natural earnings to develop yoy in 2H24 attributable to decrease curiosity prices and advantages from a low base.
(Take revenue: 30.50 / Cease loss : 25.25)

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