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Mr. Kiticharn Sirisuk-archa Senior Vice President of Retail Analysis CGS-CIMB Securities (Thailand) said that the Thai stock market this morning is expected to slow down in line with foreign markets. Asian stock markets fell across the board as the US market sank due to tech stocks. The market is concerned about the spread of the COVID-19 virus. That can cause the economy to recover slowly. This can be seen in the slow American economy. The Purchasing Managers Index (PMI) included the US manufacturing and service sectors. It fell to 54.4 in September, the lowest level in two months
In addition, the Fed chairman said that the economic recovery would be slow. There must be measures to heal the US economy to help. That if there isn’t already, there may be a problem Causing the stock sell-off force
The price of crude has risen slightly after falling two weeks ago. And in response, the US Government’s Energy Information Administration (EIA) said US crude stocks fell 1.6 million barrels in the week ending September 18, the second week. consecutive decline.
However, our domestic market would not weaken. Despite pressure from the Bank of Thailand (BOT) cut its forecast for Thailand’s gross domestic product (GDP) in 64, the Thai economy in AD 64 is estimated to expand 3.6% from originally forecast to be It will expand by 5.0% after cutting the forecast for foreign tourists to just 9 million in 64 from 16.25 million, which may have an impact on tourism. And the hotel groups, also today to follow the political rallies too
Ready to provide support 1,250-1,255 points and resistance 1,272-1,275 points.
Investment considerations
- The last New York Stock Exchange (September 23), the Dow Jones Industrial Average closed at 26,763.13, a decrease of 525.05 points (-1.92%), the Nasdaq closed at 10,632.99, a low of 330.65 (-3.02%), the S & P500 closed at 3,236.92. It decreased 78.65 points (-2.37%)
- Asian stock markets opened today, the NIKKEI 225 index, the Japanese stock market fell 131.49 points, the KOSPI index The South Korean stock market fell 37.62 points, the Hong stock market HSI index Kong fell 204.68 points, the TAIEX index of the Taiwan stock market fell 96.40 points, the FTSE STI index of the Singapore stock market fell. 13.99 points
- The Thai stock market closed in last place (September 23, 20) 1,264.01 points, down 3.62 points (-0.29%).
- Net sales from foreign investors of 854.30 million baht on September 23, 20
- WTI crude for delivery in November on the Nimex market closed for the last time (September 23, 20) at 39.93 dollars a barrel, 13 cents more or 0.3%.
- The benchmark Singapore GRM index closed last at $ 0.33 / barrel.
- The Thai baht opened at 31.59, depreciating since yesterday. Markets worried about the coronavirus outbreak in Europe hurt the economy.
- The MPC unanimously resolved the interest rate of 0.5% and increased its “GDP” this year, dropping less to 7.8%, but cutting expectations. Growth next year to 3.6%. Slower than expected trend Estimates in 2 years, the economy has returned as much as before the COVID. “Commerce” revealed August exports. The contraction of 7.9%, indicating strong growth in the US market in the third month, still estimates that the full year is negative between 5 and 8%.
- Property Association president points to long-awaited coronavirus Property risk point cannot continue After the big picture, loan rejection increased by 50%, fearing at the end of the loan period. The balance of credit rejection continues to increase Suggest to the state to support the “reduction of taxes on the transfer of companies” to close the company Being sold by creditors at auction While the “credit bureaus” warn to monitor the increase in debt of households Affects housing debt
- National Bank closely monitors financial institutions with confidence Intercept money laundering to support terrorism Repeat if suspicious transactions are found, they must report the PPA. In the case of the FinCEN documents, “4 Thai banks” had suspicious transactions. It does not mean that it is an illegal transaction. It was noted that it was necessary to wait to investigate “Krung Thai” revealed during the examination of the information source Ready to cooperate As bank stocks continued to fall
- Ms Pimchanok Won Praphon, Director of the Office of Trade Policy and Strategy (OTP), revealed that Thai exports on August 20 were valued at US $ 20.212 million, down 7.94%, but valued. More than 20 billion US dollars in 5 months and less negative. Compared to the highest negative 23.17% on June 20, it is already the lowest point. There are 3 main export groups: 1. Agriculture and food such as palm oil, canned tuna, pork, seasonings. 2. Products related to work at home such as computers, furniture, appliances and 3. Products to prevent infections such as rubber gloves.
- Mr. Yuthasak Supasorn, Governor of the Tourism Authority of Thailand (TAT) revealed that TAT has done everything possible to stimulate domestic tourism to meet the targets set for 80 million people – times in the year 63. He signed a Memorandum of Understanding on Tourism Cooperation or Memorandum of Understanding with the Chamber of Commerce of Thailand and the Board of Commerce of Thailand. To draw rich Phuthon OR local businessmen who are members of the Chamber of Commerce at the national level to travel in the country From November 20 to February 64.
* Featured actions today
- BCH (Finansia Syrus) “Buy” target of 20 baht, third quarter earnings of 63 are expected to stabilize at least YY at around 400 million baht. It was also boosted by the HIV screening service, the ASQ service, and strong social security revenues. And expect to benefit from the Special Tourist Visa that the government prepares to receive foreigners
- ALT (Kingsford) “Speculative buy” target of Bt4.30 Order book remains strong at Bt1.73bn for the rest of the year. Recently, ALT’s joint venture SIC signed a memorandum of understanding with EGAT on projects related to telecommunications networks. To expand the Fiber Space network (both underground pipelines and underground cables), the company has ample room for future expansion. As a result, future income has the opportunity to continue growing. For the 2020-2021 normal profit forecast, estimated at 83 million baht and 141 million baht, reversing the loss in 2019 and growing + 70% year-on-year in 2021, respectively.
