Thai stocks today, 11 July 2024, the central bank sends a signal to cut interest rates in September, support and resistance levels 1310-1335 points.

Thai stocks today, July 11, 2024. Despite positive sentiment, InnovateX Securities rates SET wait to follow US inflation tonight after the central bank chief's statement raised hopes that the central bank will cut interest rates in September. The index is expected to have a limited reversal with resistance levels at 1330 and 1335 points and support levels at 1310-1315 points respectively.

In the short term, the SET is still fragile and fluctuates within a narrow range. Meanwhile, international factors could be supported by the Fed chair's stance, which could be a sign of further easing of monetary policy, with the US June CPI expected to decline from 3.3% y-o-y to 3.1% y-o-y in 2018. In the last month. , labor market numbers have declined. Therefore, the investment strategy recommends “Selective Buy”.

Investment strategy

See the Thai stock market as still weak and volatile within a narrow range. While awaiting clarity on domestic political factors and new sub-factors the investment strategy recommends “selective buy” across 4 themes as follows:

1. Select stocks HANA TOP BEM MINT OSP BBL SCGP AOT which are expected to benefit from cover short and have good fundamentals with ESG rating level A-AAA after starting to apply set uptic measures from July 1, 2024.

2. By expanding the loan limit to 300,000 baht and choosing ADVANC CPALL BDMS BBL BEM GULF, the plan to adjust the conditions of the new parent ESG fund is expected to have a positive effect.

3. GLOBAL PLAY STOCKS, SCGP TU MINT (SCGP RECOMMENDS BUY ON WEAKNESS) SCGP TU MINT (SCGP RECOMMENDS BUY ON WEAKNESS, AFTER WEAK CHINESE NUMBERS)

4. The situation in the Middle East has started to improve. As a result, the price of Bent crude oil fell to 80-90 dollars per barrel. You can still hold oil stocks for hedging, so investors can take more risks. Therefore, we still pick upstream oil stocks like PTTEP.

Today's best picks are stocks

HANA sees rebound in 2Q24 operating results and significant recovery in replacing smartphones, AI, RFID business and PMS business in 2H24. Because raw material costs can be passed on to consumers and the limited impact of raising the minimum wage. Recommended to buy today, the price is not more than 48 baht.

TOP on short-term gains from rising oil prices. GRM is recovering from the low point supported by seasonal demand for gasoline and jet fuel. Fragrance business performance is expected to improve due to strong product price spreads. Backed by tight supply in Asia, we recommend buying today at a price not exceeding 53.25 baht.

Important things to follow today

• The Fed chairman said the Fed is likely to ease policy soon, saying the Fed is slowly focusing on the labor market and the central bank won't wait until inflation reaches its 2% target to cut the budget.
• EIA weekly U.S. crude oil inventories fell by 3.4 million barrels, beating market expectations. Meanwhile, Hurricane Beryl had little impact on oil supplies. Texas, in particular, produces more than 40% of the United States' crude oil supply.
• The Philadelphia Stock Exchange Semiconductor Stock Index hit a +2.4%DoD record high, benefiting from demand for AI technology after TSMC posted better-than-expected earnings in 2Q24.
• A. The Ministry of Finance announced the end of the digital wallet top-up program, reducing the amount to 450,000 million baht and using new funding sources only from the 2024 fiscal year and 2025 fiscal year budgets, without using BAAC funds. Non-Products You can use your digital wallet to purchase 3 more products, including electrical appliances. Electronics and Mobile Phone
• The finance ministry said it is preparing to discuss with the BoT to review the LTV criteria, which requires foreigners to own land for 99 years to support the market's recovery, as a key factor holding back the real estate business.
• According to the EV 3.0 subsidy initiative, 14 EV car manufacturers are expected to produce 180,000 vehicles in 2022-25, according to the Electric Vehicle Association of Thailand. Concerns about oversupply in the Thai market are both high bounce back loans from high housing loan problems
• As more information is needed, the Constitutional Court plans to continue hearing the case on the Prime Minister's qualifications on July 24. and awaiting comments Evidence from concerned persons-agencies