© Reuters (Additional) Thai Stock Market Conditions: Morning index trend swings sideways. Follow Fed Chairman's Statement – Thai Inflation
InfoQuest – Mr Apichart Phobangirdkul, Senior Director, CISA Strategic Analysis Department, TISCO Securities, said the Thai stock market is expected to swing from side to side this morning. There are still no new positive factors. Investors are awaiting key factors, such as comments by Federal Reserve Chairman Jerome Powell to the House Financial Services Committee on March 6 and to the Senate Banking Committee on March 7, including this week's US employment data. Numbers. To find signals about the direction of the Federal Reserve interest rate
While at home today awaiting the release of February inflation numbers, which are expected to reach -0.8% on an annual basis.
Keeping the support level at 1,360-1,350 points and the resistance level at 1,375-1,380 points.
* Investment consideration issues
– New York Stock Exchange (March 4) The New York Stock Exchange's DJIA index closed at 38,989.83 points, down 97.55 points or -0.25%, and the S&P 500 index closed at 5,130.95 points, down 6.13 points or -0.12%, and the index closed at 5,130.95 points. 16207.51 points, down 67.43 points or -0.41%
– Asian stock markets are open today. The Hang Seng Index of the Hong Kong Stock Exchange opened the morning session at 16,343.95 points, down 252.02 points, or -1.52%, and the Shanghai Composite Index of the Hong Kong Stock Exchange opened the morning session at 3,027.10 points, down 12.21 points, or -0.40. percent, while the Nikkei index opened the market at 39,881.73 points, down 227.5 points, or -0.57%.
– The Thai stock market closed recently (March 4) at 1,362.57 points, down 4.83 points (-0.35%), with a trading value of 40,361.88 million baht.
– Foreign investors sold a net amount of 609.80 million baht (March 4)
– WTI crude oil was delivered in April. (March 4) fell by 1.23 or 1.54%, closing at $78.74 per barrel.
– The reference refining margin for the Singapore market at the last close (March 4) was $6.94 per barrel.
– The baht opened at 35.74, strengthening slightly. Watch Thai Inflation – US Economic Figures – Statement from Fed Officials
– SET D-Day extends stock trading time 30 minutes faster in the afternoon. The exchange, MAI and TFEX will all start using this on March 25, and increased trading hours have been shown to help. The number of trading hours in Thailand has come close to other stock markets with an average of 6-7 hours per day.
– NESDB reveals that Thai household debt exceeded 16.2 trillion, reaching 90.9% of GDP, indicating an increasing trend, the rate of deceleration, seeing signs that car and real estate loans are starting to slow, but high-risk vehicle registration debt total rose by 40.2 %, and it is easy to get a loan at a high interest rate. Given households' lack of liquidity, Danoša has not decided whether or not the loan-to-value threshold should be relaxed, noting that household debt is still too high. Pointing out that the percentage of unskilled labor is high, which reflects that the production structure has not yet been modified.
– The “Chairman of the Election Commission” reveals that he is studying the solution of “Khao Kao Kai” without any delay, and is rushing to study the court’s decision. A complete constitution with an outline of the issue of requesting the resolution of “Bomjaithai” within the time frame.
The Airline Association welcomes the announcement by the Prime Minister's son of his support for the policy of making Thailand an aviation hub in the region. Requesting the government to launch regulatory procedures and laws. It will help with flexibility. Along with recommendations to improve and expand airports across the country to increase their capacity to support flights
*Today's featured stocks
– AMATA (Krungsri) “Buy” target is 28 baht with positive sentiment from the news Tesla (NASDAQ:) is also interested in investing in Thailand by surveying the area to build a battery and electric vehicle production plant. Meanwhile, the Thai government has increased its offer for TESLA to use green energy by 100%.
– SAPPE base price (Kasikornthai) 101.90 baht In 2024 SAPPE aims to 1) Increase sales by 20-25% 2) Maintain GPM at 44.8% 3) Revive coconut water business and 4) Increase SG&A to expand revenues. 100 basis points management expects 1Q24 sales to reach new high” Positive outlook for analyst meeting. GPM target is higher than our assumption of 43.9%, representing an upside risk. Higher support and administration expenses are included in the estimate. Factors that Adding to the stock's valuation multiple are the following: 1) 1/2024 QoQ Outlook, Stronger Sales and Lower Marketing Expenses QoQ 2) Lower PET Resin Prices (45% of CoGS) 3) Upside Risk to Our Outlook Given Target SAPPE's GPM and 4) Inexpensive equity value, trading at 2023-25 ratio of 21.4x / 18.1x / 16.6x.
– “Specific” target for SAFE (IRA) 21.00 / 23.30 baht. We like SAFE from the trend in infertility treatment, which is expected to support earnings in 2024, and continuously grow income from treating foreign clients, especially foreigners. China rose Meanwhile, the plan to expand more branches in the coming period is expected to help increase the upside in the future, and technically, the price breaks through the resistance at the downtrend line. As the trading volume increased and at the same time, the MACD technical instrument appeared and the SSTO gave a buy signal.
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