Mr. said Sarawut Techochawalit, Senior Director of Securities Analysis at RHB Securities (Thailand), said that the Thai stock market this morning is expected to continue to fluctuate in line with Asian stock markets that move in positive and negative territory. Pressure due to crude oil prices falling more than 2 dollars, which could cause selling pressure on PTTEP, which had a lot of speculation yesterday.
Meanwhile, TISCO Financial Group Public Company Limited (TISCO) reported 1Q24 results, contracted profits by 3.3% YoY, and revealed that the outlook for the rest of this year will set higher reserves. Because the economy is not expected to grow excellently, it may cause bad debts (NPL) in the car loan group to increase. and lending slowed as demand for new cars decreased.
Including the finance group, there is still ongoing pressure. After the Chairman of the Federal Reserve (Fed) indicated that cuts in interest rates could take longer. This has caused investors to weigh up the possibility that the first interest rate cut by the Fed could be delayed until September. than originally expected in June This will lead to the postponement of an interest rate cut by the Monetary Committee (MPC) of Thailand as well.
The support is 1,355 points and the resistance is 1,375 points.
*Investment consideration issues
- New York Stock Exchange (April 18) The Dow Jones Industrial Average closed at 37,753.31 points, down 45.66 points or -0.12%, the S&P 500 index closed at 5,022.21 points, down 29.20 points or -0.58%, and the Nasdaq index closed at 83,83 . points, down 181.88 points or -1.15%.
- Asian stock markets are open today. The Nikkei Index opened at 37,745.04 points, down 216.76 points or -0.57%, while the Hang Seng Index opened at 16,253.24 points, up 1.4 points or +0.008%, and the Shanghai Composite Index opened at 3,060.03 points down or -1.03 % .
- The Thai stock market closed most recently (April 18) at 1,366.94 points, down 29.44 points (-2.11%), trading value 62,396.97 million baht.
- Foreign investors sold a net 6,450.75 baht (18 April)
- The price of WTI crude oil for delivery in May (April 18) decreased by 2.67 dollars or 3.13%, closing at 82.69 dollars/barrel.
- The benchmark refining margin of the Singapore market last closed (April 17) at $4.46/barrel.
- The baht opened at 36.75, keeping an eye on foreign flows.
- The “Orange Line” case is nearing its end The “Judge” opens his opinion on whether the case should be dismissed according to the ruling of the Central Administrative Court, pointing out that the May 2022 RFP document is legal , no need to wait for it. Cabinet approval, and is under the authority of the committee and the MRTA As for listening to opinions from the private sector, it does not amount to discrimination and does not violate “BTS.” a meeting of the full court panel to make a final decision.
- STARK announces its request for debt repayment in the rehabilitation of “Phelps Dodge” business totaling 25,541 million baht, and reveals whether it will receive debt repayment as requested or not depending on the decision of the creditors-planners meeting Use your right to object.
- JKN has set a plan and timetable to speed up the process of resolving business rehabilitation after 23 April The court has scheduled an appointment to hear the rehabilitation order and appoint a plan maker. Willing to plan “Cut down losing businesses” and prepare to sell businesses that still have value to support liquidity. Regarding the steps to move forward in accordance with the plan, it is expected to be in January next year.
- BOI reveals 7 major Chinese EV battery manufacturers interested in investing in Thailand, 2 of which are willing to pilot spending 30 billion to set up factories. Treasury prepares to review inheritance tax
New, fill gaps to avoid payment Gold is still on the rise, moving another 450 baht plans to adjust the minimum wage for the third time, with each province offering an increase of 400 baht.
* Stocks featured today
- SAPPE (IRA) recommends “speculative buy” with a target price of 96 baht, evaluating the profit trend for 1Q24, making profit a new high at 331 million baht from increased sales. which comes from residual sales at the end of last year and sales in other countries Better from the hot weather Including the release of new products And still looking at momentum in the 2nd-3rd quarter of 2024, still making new high profits continuously.
- BBL (Krungsri) recommends “Buy” with a target of 162 baht It is one of the main banks that will benefit from the direction of continued high interest rates. And next week it will report operating results for 1Q24, expecting a profit of 11.8 billion baht, an increase of 33% QoQ and 17% YoY, benefiting from high interest rates in the medium-term picture.
- CPALL (Liberator) recommends “Buy” with a target of 72 baht, which is still supported by better leverage. As a result, the operating performance direction for the 1st quarter of 2024 is expected to continue to grow and will also allow SSSG to grow well and the Valuation is at an affordable level. along with positive expectations regarding the government’s economic stimulus policies. Especially the digital wallet project that will be added at the end of the year.
#Additional #Thailand #stock #market #situation #morning #index #trends #vary #pressure #due #drop #oil #prices #RYT9
