Brokers assess Thai stocks for the first week to open the country – cancel curfew (1-5 Nov. 64) to win 1,650 test points, but most still look at the market. There is still pressure from the Nov 2-3 Fed meeting. The country awaits the announcement of the Q3 budget in the middle of the month. Recommended at the beginning of the week. Play Safe. Focus on defensive stocks such as communication groups that benefit from opening the country. while CIMB Recommend to slow down investment, waiting for the Fed to reduce QE
On Friday 29 October, General Prayut Chan-o-cha, Prime Minister and Minister of Defense and the Center for Situational Management of the Coronavirus Disease 2019 (CDC) team revealed that Thailand is ready to open the country to accept tourists without quarantine, including 45 countries and the Hong Kong Special Administrative Region. From November 1, 64, by the Prof. has announced the cancellation of the control of leaving the house (curfew) in the Bangkok area. From November 1 as well, there are still 7 provinces that still have the highest and strict control. From 23 provinces to 7 provinces, namely Chanthaburi, Tak, Nakhon Si Thammarat, Narathiwasas, Pattani, Yala, Songkhla, with the highest control. Maintaining the same measures and maintaining a ban on leaving the residence from 23.00-03.00 while giving Bangkok, Krabi, Phang Nga and Phuket a blue area travel pilot
Yuanda gives SET resistance 1,650 points, suggests keeping an eye on the FOMC meeting
Mr. Piyaphat Pattarapuwadol, investment strategist at Yuanta Securities revealed that although Thailand has a factor in opening the country on November 1, the foreign factor which is a worldwide trend And is quite heavy is the FOMC meeting that may cause early next week. The market may seep down, weaken or swing within a narrow range until the end of the meeting on Nov 2-3, this week’s support index frame is estimated at 1600-1,605 points, while resistance. 1,640-1,650 points
For that investment strategy Recommended at the beginning of the week. Play Safe. Focus on defensive stocks such as communications, which can reduce risk or groups that benefit from opening the country. which the price has not increased because investors still follow the results Which is expected to be retail is not good. and is the lowest point due to lockdown covid epidemic But after starting to see a sequential recovery which if the price fell will be an opportunity to collect
CIMB Securities recommends slowing down investments, waiting for the Fed to reduce QE
Mr. Teerasak Thanavarakun, Director of Analysis CGS-CIMB Securities (Thailand) assesses that the overall Thai stock market It is expected to swing (sideway) to wait to see the FOMC meeting on 2-3 Nov 64 if the overall picture of the meeting results has a way to reduce QE more than the market expected. Or the rate hike is seen quickly and occurs at the end of the year 64, it is expected that the global stock atmosphere has a chance to respond to the negative news. But if the QE measure gradually decreases Or there is a way to raise interest rates in the year 65 instead. The market may respond to the positive news first.
“We expect the Thai stock market to continue swinging to wait for the outcome of the Fed meeting. And if a statement comes out after that, it could create volatility in the market. This is a factor that the market still needs to monitor.” Mr. Teerasak said
As for the issue of opening the country on November 1, it seems that the market has responded quite positively to the factors. In addition, investors began to worry about the spread of COVID-19 in provincial cities such as Chiang Mai, for example, which could put pressure on the stock market in the short term. which the movement of the index Estimated support at 1,610 – 1,600 points. However, if the market responds to the negative news from the FOMC meeting, there is a chance to see the index. Fall assesses the next support at 1570 and 1550 points, respectively, while the resistance is 1,630 points.
It recommends slowing down investments before waiting to see the situation after the Fed’s announcement. Including the announcement of the budget in 3Q21, which is expected to know most of the results in mid-November 21. And after that, buy stocks that are expected to recover next year, such as commercial banks, recommend SCB, KBANK, as well as energy stocks that respond to rising global oil prices, recommend PTTEP, SPRC, TOP.
Maybank Securities recommends speculation, announced the results of the 3Q21
Mr. Wichit Arayapisit, investment strategist Maybank Kim Eng Securities (Thailand) sees that the Thai stock market this week (1-5 Nov) is expected to move up (Sideway Up) in response to the opening date of the country. November 1, 21, looking at a moving frame of 1610-1640 points, and investors are starting to expect a recovery. of the operating results from the 4th quarter onwards to support
As for foreign market factors, such as the results of the Federal Reserve’s Monetary Policy Meeting (FOMC) It is expected to announce that it will cut QE by about $15 billion/month. as the market expected from the former injecting QE 120 billion dollars / month This issue is expected that the market has already absorbed the news.
The investment strategy recommends to speculate on stocks whose 3Q21 earnings are the lowest point and will recover in the next quarter. According to the economic conditions that have been opened, such as SCGP , CRC , CPN and stocks that have continued to perform in a good direction since Q3/21, such as leasing groups such as ASK, JMT
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