Asia Plus Securities Recommended stocks that will benefit from the 2024 budget payments of 3.48 trillion baht. Contractors-building-materials-steel groups are excellent ones worth investing in. “CK, STEC, TTCL, SCC, SCCC, TASCO, BSBM, TMT, TSTH, INOX” is on the list.
On March 18, 2024, reporters reported that Asia Plus Securities Company (ASPS) said through its analysis that the House of Representatives this week will consider the 2024 budget in its second agenda, it is hoped that the process will move forward until the end of the process the Senedd should allow the budget to be paid within April 2024.
If it follows the framework set for the 2024 financial year, there will only be 6 months left for the payment period, meaning we will hopefully see an inflow of money to stimulate the economy. For this week, there is a chance that the SET INDEX will continue to fluctuate within a narrow range.
For the preparation of the Budget Expenditure Act for the financial year 2024, with a budget of 3.48 trillion baht, there was a decision to recognize the adjustment of the consideration date of the draft Budget Act for the financial year 2024, approximately two weeks earlier. with details as follows.
- The House of Representatives considers the draft Budget Act for the year 2024, agenda 2-3, March 20-21, 2024.
- The Senedd considers the draft Budget Act for the year 2024 on 25-26 March, 2024.
- Cabinet Secretariat Bring the draft Budget Act BE 2024 to Her Majesty the King. Committed to enactment on April 3, 2024, after which it is expected to come into force. and cause money to enter the economy at the beginning of the second quarter of this year.
Such issues This gives only 6 months to use the tight budget of 2024. And it is expected that government spending numbers which have been negative for 6 quarters in a row will be able to turn around and recover, which is in line with NESDB GDP GROWTH forecast for this year in the range of 2.2% -3.2% The obvious areas of recovery this year are: Government consumption (G) is expected to be +1.5%YOY, a notable recovery from 2023 at -4.6%YOY.
The research department has collected previous data. which statistics show that A group of stocks that tend to rise significantly When government spending grows noticeably, the groups CONMAT (building materials) and CONS (construction contracting) rise more prominently than the market and are starting to see MOMENTUM on the issue of accelerating budget spending which is approaching. From investors’ speculation on Friday, March 15, 2024, support the stock group STEEL +8.9%, CONS +1.1%, CONMAT +0.3%, while SET INDEX -0.6%.
In this regard, the Cabinet is hastening to distribute the budget more quickly. And it will come into force at the beginning of the second quarter, it is expected to support CMC in the second quarter to be bright again. The highlight is the use of the government. Because there are only 6 months to spend.
Recommended strategies for investing in stocks
The construction contracting group includes CK, STEC, TTCL The construction materials group includes SCC, SCCC, TASCO.
Including speculation on steel stocks, including BSBM, TMT, TSTH, INOX, the research department expects stock prices to return to the OUTPERFORM market again.
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