During the period of accumulation of strength
Today's SET is expected to be “sideways” in the range of 1375-1390 points. Crude oil stocks & US gasoline stocks lower than expected. Increased speculation in energy and refining groups led to a return to depreciating the baht. Advice to follow carefully With a short-term strategy, be careful in the electronic group. Today we recommend “SPRC” while recommending gradual accumulation of refineries based on expected 1Q24 profits from higher copper prices.
Weekly crude oil stocks in the US fell by -1.53 million barrels, against the market's expectation of an increase of +306 million barrels, while gasoline stocks fell by -5.66 million barrels, from less popular numbers than the market's expectation of -1.62 million barrels. This is expected to fuel speculation in energy stocks. More refineries
As for tonight's economic numbers, the following are several, 1) US retail sales are expected to return to +0.8% mm expansion in February Core PPI is +0.2%yy and 3) the total number of weekly jobless claims in the US is expected to increase by 218,000 jobs.
Global copper prices rose a substantial +3.5%dd to hit an 11-month high, as smelters in China discussed preparations to cut production capacity. Due to this, the inflow is likely to decrease in the next period. This point may affect electronic stocks that use copper as a cost. (For Thai stocks, this could be negative sentiment for KCE)
As for SET, it is expected that it is still in the process of building strength. Amid positive expectations for Thailand's economic recovery in the next period. The tourism sector has been supported by the number of tourists entering Thailand this year, which has already exceeded 7 million people, and domestic consumption is gradually recovering. The export sector is expected to expand again this year and investment is expected to pick up this year.
Daily Test: SPRC
Strategic Target Price (Bad) 10.20
Turnaroud's positive outlook for this year's performance has been positive since the start of the year. Coupled with short-term Chinese economic figures starting to show recovery (exports and rising Chinese inflation
Meanwhile, the current share price is at an affordable level at 1x valuation in the PBV area.
Picture of the day
Weekly US crude oil inventories fell against expectations.
Ice on
March 13, US weekly crude oil stocks,
Industrial output, Eurozone
March 14 US retail sales, US PPI,
Weekly U.S. Jobless Claims
15 March. FTSE Restructuring,
Industrial production in the US
University of Michigan's American Faith Index
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