(Additional) Thai Stock Market Situation: The morning index trend fluctuates sideways within a limited range depending on the region. Looking forward to moving the case forward – Fed Meeting Results by InfoQuest

InfoQuest – Mr. Apishart Phobangirdkul, Senior Director, CISA The Thai stock market is expected to fluctuate sideways this morning within a limited range, in line with stock markets in Asia that opened slightly negative, said the Strategic Analysis Department, TISCO Securities. This is because investors are waiting for the Constitutional Court to read the ruling of the Cauclay Party in the event that it campaigns to promote the policy of amending Article 112 to see whether it amounts to undermining the government or not. If a not guilty verdict is issued, this will ease market concerns about political issues.

Meanwhile, investors are still watching the Federal Reserve meeting, the results of which will be known tomorrow. How will this indicate the direction of US interest rates?

But I think the market is likely to receive support from the International Monetary Fund, which raised its forecasts for the global economy this year. It is expected to expand by 3.1%, up from the October forecast of 2.9%, supported by the US economy, which is still expanding well. And the financial stimulus measures taken by China

Support is at 1,365 points and resistance is at 1,380-1,390 points.

* Investment consideration issues

– New York Stock Exchange (January 30, 2024) The Dow Jones Industrial Average closed at 38,467.31 points, an increase of 133.86 points, or +0.35%, and the S&P 500 closed at 4,924.97 points, a decrease of 2.96 points, or -0.06%. The Nasdaq index closed at 15,509.90 points, down 118.15 points, or -0.76%.

– Asian stock markets are open today. The Hang Seng Index of the Hong Kong Stock Exchange opened the morning session at 15,652.05 points, down 51.40 points, or -0.33%. The Shanghai Composite Index of the Hong Kong Stock Exchange opened the morning session at 2,815.50 points, down 15.03 points, or -0.53 percent, while the Nikkei Index opened the market at 35,747.89 points, down. 317.97 points or -0.88%.

– The Thai stock market closed recently (January 30, 2024) at 1,373.14 points, down 3.14 points (-0.23%), with a trading value of 42,491.74 million baht.

– Foreign investors sold a net amount of 1,396.64 million baht.

– WTI crude oil was delivered in March. It rose 1.04, or 1.35%, to close at $77.82 per barrel.

– The latest benchmark refining margin for the Singapore market (January 30, 2024) was $9.68 per barrel.

– The baht opened at 35.35 baht, with the Betha situation monitored. – Awaiting the results of the Fed meeting, with the 35.20-35.50 baht range considered.

– A Constitutional Court has put in place tight security measures for a date to hear a decision on the Cao Clay Party’s proposal to amend Article 112 during the election campaign, and it is possible that the results will go in both directions, either not falling within the standards or running into risks. But if it falls within this category and the work progresses to the point of dissolving the party. “Pitha-Chaithawat” asks not to go and explains that he is at a House of Representatives meeting and the speaker insists that the government will not be overthrown. But if there is a negative decision, it means that there is already a plan in place.

– The Stark case is not over yet, as more than 200 shareholders have asked DSI to conduct further investigations to file additional corruption cases against the perpetrators. DSI has received information from shareholders and is preparing to expand the results of the ownership track, and it is expected that it will be completed. The investigation will be scheduled for next February 7 before being sent to the “Public Prosecutor,” pointing to additional defendants in “Destiny 4”? Shareholders refuse to abandon the investigation, and Chenwat will not be prosecuted.

The Association of Banks publishes 3 unified guidelines for debtor care, encouraging debt restructuring – helping chronically vulnerable groups – protecting the rights of debtors fairly.

– The Legal Subcommittee expelled the Public-Private Partnership Committee and asked February to decide on the complaints. The issue of checking the qualifications of bidders for the orange line – is this legal or not? It was discovered that ITD Group may be disqualified after Incheon failed to submit 3 years of financial statements for consideration in Envelope 1. The Article 36 Committee used the information search method itself “Syria “The examination committee has not been appointed. Waiting for the decision of the Supreme Administrative Court in the Orange Line case.

*Today's featured stocks

– ADVICE (Advice IT Infinite Public Company Limited) entered the market on the first day of trading, and the number of offering shares does not exceed 170.00 million shares, which represents no more than 27.42% of the total number of shares. The offering price of 3.24 baht per share is considered historic, and the P/E of 10.00 baht is compared with the P/E of companies running similar businesses, including COM7 18.6x, SIS 12.4x, SVOA 13.2x and SYNEX 15.1x.

– PTTEP (Liberator) recommends 'Buy' with a target price of 168 baht, with earnings 4/66 at 18.2 billion baht, 9% better than expected, mainly due to lower unit costs than expected. Special items are lower than expected The profit trend for the first quarter of 2024 is expected to grow on a quarterly basis as a result of there being no more compressed special items. A dividend of 5.25 baht per share was announced, which was better than the market expected. It is calculated as a return rate of 3.6%.

– CBG (Krungsri) recommends “Buy” with a target of 93.60 baht, and expects the 4Q23 balance sheet to grow well since the start of revenue recognition from the beer business. They have a positive psychology from the Meteorological Department and it is expected that this year's summer will come early, starting from the end of February, the maximum temperature may reach 44.5 degrees, which is positive for the beverage group.

– SNNP (Kingsford) recommends “Buy” with a BB consensus target of 23.70 baht, 9M 2023 net profit of 471 million baht + 30% YoY on sales revenue + 12% YoY, growing in both Thailand and beyond. As economies of scale are achieved, the net profit margin rises to 10.59%. In the coming period, there are still driving factors from 1. Expanding the factory to increase production capacity in Vietnam by the first quarter of 2024, installing and operating the second phase production line, which is the bento production line, and 2. Continuously launch new products according to the trend. Recently launched 'Jele Freshi' mixed with beads. The market expects net profit in 2023 and 2024 to reach 649 million baht (+26% y/y) and 780 million baht (+20% y/y).

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