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Mr. Kiticharn Sirisuk-archa Senior Vice President of Retail Analysis CGS-CIMB Securities (Thailand) expects the Thai stock index to fall this morning. This echoed concerns over the dissolution of political demonstrations in the country on Friday. If you dig deeper, the index is likely to rebound. As a result, the overall adjustment may not be great due to positive outward sentiment. And most of the Asian stock markets are positive AND Dow futures that jumped more than 100 points in response to the advance of a new round of stimulus in the United States that Nancy Pelosi, Speaker of the United States House of Representatives is expected to the measure becomes law before the November 3 presidential election.
Also, the national fund sold quite a few shares last week. Especially during Thursdays and Fridays With a total sales force of more than 4.1 billion baht, it is likely to return this week from the incoming positive externalities. Along with protests that stand out and may affect the country’s economic recovery. But it should be an image that the market has already perceived to some extent.
While this week, investors will be on the lookout for the Banking Group’s 3Q20 earnings announcement to be released. After TISCO Financial Group Plc. (TISCO) and Krungthai Card Plc. (KTC) announced better than expected. Especially in terms of asset quality. But we still have to keep an eye on NPL for the next period after the Bank of Thailand (BOT) moratorium expires on October 22 and the results of making an estimate. The status and performance of commercial banks under stress (Stress Test) will be published in October. If the Bank Group’s performance in 3Q20 and asset quality are not worse than expected. Bank stocks are poised to rally after a sharp drop in their share price. Also, if the stress test results come out, all banks will likely pass the criteria. Then you can pay dividends again if the BOT allows it. It will also be a positive factor for the Bank’s actions.
Ready for support at 1,220 and 1,200 points while resistance at 1,240 and 1,247 points.
