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Mr. Kiticharn Sirisuk-archa Senior Vice President of Retail Analysis CGS-CIMB Securities (Thailand) said that the Thai stock market is expected this morning to swing sideways at a correction point. Concerned about political protests pluralistic protests. And yesterday, there was a vocal manipulation that feared violence or not, so we had to wait and see the political movement.
But our domestic market can also be driven by energy stocks. And petrochemicals After the price of crude oil rose 2% relative to China’s heavy oil imports, the price increased. However, please follow up on the Banking Group’s 3Q20 earnings announcement starting with TISCO first.
Asian stock markets this morning moved slightly into negative territory. As well as the European market AND the US market From the disappointment of the COVID-19 vaccine After Johnson & Johnson (J&J) announced the suspension of the COVID-19 vaccine trials. After discovering that one of the trial participants fell ill for unknown reasons. They also hope to see elections in the United States. There are also concerns about the spread of the second wave of COVID-19 after many countries have resumed lockdowns.
In addition, the International Monetary Fund (IMF) released its World Economic Outlook (WEO) report, and expects the world economy to be -4.4% this year, better than the -4.9% expected in June and that next year take a turn of +5.2. The Thai economy will contract by 7.1% this year, better than expected in June from a contraction of 7.7%. The 4% growth indicates an improvement in the economic outlook.
Ready to set the swing frame at 1,260-1,277 points
Investment considerations
- The last New York Stock Exchange (October 13), the Dow Jones Industrial Average closed at 28,679.81, down 157.71 points (-0.55%), the S & P500 closed at 3,511.93, down 22.29 (-0.63%), the Nasdaq closed at 11,863.90. It decreased 12.36 points (-0.10%)
- Asian stock markets opened today, the NIKKEI 225 The Japanese stock market fell 56.12 points, the Hong Kong stock market HSI index rose 159.17 points, the TAIEX index The Taiwan stock market fell 20, 04 points, the KOSPI index The South Korean stock market rose 0.59 points, the FTSE STI index The Singapore stock market fell. 5.21 points, FBMKLCI Malaysia shares fell 1.63 points.
- The Thai stock market closed in last place (October 12, 20) 1,273.43 points, an increase of 6.29 points (+ 0.50%).
- Foreign investors bought 777.40 million baht on October 12, 2020.
- WTI crude for November delivery on the Nimex market last closed (Oct. 13, 20) at $ 40.20 a barrel, an increase of 77 cents or 2 percent.
- Singapore’s benchmark GRM index closed last at $ 1.58 / barrel.
- Thai baht opens on 31.23 / 29, likely to weaken due to concerns about COVID vaccine delay – look forward to national policy
- Thai Airways accelerates business rehabilitation plan for 5 years, non-aeronautical business, aviation kitchen – mechanic – cargo, revenue reaches 50% Extend the franchise next year, complete 700 branches, add “Puff & Pie”, ready to deliver a new brand “Patongko” to penetrate all segments. Confident of doubling revenue, reaching 20 billion in 5 years
- TAT is preparing to create an Elite card Extract foreign money at least 20 billion baht through the project “Flexible Elite Program” to support developers who sell real estate to foreigners, attaching an Elite card. Increase Buying Power of Real Estate, Support Business During COVID Period
- Vehicle registration commitment business Extend the special interest campaign until the end of the year. After Lightening the Debtor’s Burden Open the way to lower-interest loan sources. “Money on the wheel” extends the interest of the campaign to 0.88% monthly until the end of November. At the end of the year 63, the “MTC” revealed the majority of the debtors. He started paying as usual.
- The Treasury will discuss 3, the Tax Department moves the tax target in fiscal year 2021 after the COVID-19 outbreak hits the economy. The point will affect entrepreneurs and people. Ready to move forward and increase storage efficiency
- BOT Plans to Extend Debt Balances, Financial Institution Debtor Assistance Report to Help People Affected by Economic Recession and COVID-19 Situation Through Debt Restructuring The Bank of Thailand (BOT) found that a As of August 31, the accounts of those who received assistance and the amount of loans that were assisted began to decline from the end of the previous month. In total, 12.1 million accounts were serviced, up from 12.5 million last month or 400,000 fewer.
* Featured actions today
- SO (Siam Rajathanee Plc.) Trading today, day one. On the Thailand Stock Exchange (SET) in the service industry Specialized service category with IPO selling price of 6.50 baht / share. The Company operates in 2 main business groups, namely: 1. Outsourcing services, which is divided into 2 types: Consisting of providing vehicle driver recruitment services Office technical staff AND data recording services (2) businesses landscape care and 2. service and rental businesses It is a car rental and property rental service.
- TU (DBS Vickers), 18.90 baht target, continued development Cooperate with Corby The world market leader in seaweed feeds Further develop Thai Union shrimp feed with omega-3 algae Aljoprime DHA to increase sales Future The core earnings outlook for Q3 20 will be very strong at 1.81 billion baht (+ 31.3% YoY, + 4.7% QoQ) because the demand for processed seafood will be very strong. Tuna was high during the second round of blocking.
- STA (Finansia Syrus) “speculative buy”, target of 34 baht, expected normal profit in the third quarter of 63 from 1.5 to 1.6 billion baht, with an approximate growth of 37% QQ and 1.010% YY mainly from the rubber gloves business. As for the natural rubber business, there may be a slight loss due to the cost increase, but the selling price cannot be adjusted in time. (The price was fixed in the second quarter of 63.) Global tire prices continue to rise in line with demand from China’s strong and promising tire industry because production in the US and Europe is seen heavily affected by COVID-19. Supply shortage occurs
