The positive morning indicator trend is limited by region. Waiting to follow US GDP-Inflation figures by InfoQuest

InfoQuest – The Thai stock market this morning is expected to continue to rise, said Mr. Sarawot Techchawalit, Senior Director, Securities Analysis Department, RHB Securities (Thailand). But not as hot as yesterday, in line with other stock markets in Asia that moved slightly into positive and negative territory. Because investors wait and see the release of US GDP numbers tonight and US inflation numbers on Friday. To evaluate the direction of the Federal Reserve (Fed) interest rates.

Meanwhile, the country is waiting for the government to issue additional economic stimulus measures. After Thailand's GDP numbers came in lower than expected

However, the stock market is expected to receive support from China, which will lower the reserve ratio (RRR) of commercial banks in early February in order to enhance liquidity and will cause the Chinese and Hong Kong stock markets to recover. Along with strong operating results from Netflix and ASML, a major chip manufacturer. It will also be positive for our electronics stocks.

Support is at 1,375 points and resistance is at 1,387 points.

* Investment consideration issues

– New York Stock Exchange (January 24): The Dow Jones Industrial Average closed at 37,806.39 points, down 99.06 points, or -0.26%. The S&P 500 closed at 4,868.55 points, up 3.95 points, or +0.08%. The Nasdaq closed at 15,481.92 points, up 55.97 points. or +0.36%

– Asian stock markets are open today. The Hang Seng Index of the Hong Kong Stock Exchange opened the morning session at 15,989.94 points, an increase of 90.07 points, or +0.57%, and the Shanghai Composite Index of the Hong Kong Stock Exchange opened the morning session at 2,823.83 points, an increase of 3.06 points. Point, or +0.11%, while the Nikkei index opened the market at 36,213.14 points, down 13.34 points, or -0.04%.

– The Thai stock market closed recently (January 24) at 1,381.19 points, up 24.65 points (+1.82%), with a trading value of 53,763.46 million baht.

– Foreign investors sold a net amount of 545.70 million baht (January 24)

West Texas Intermediate crude delivered in March (January 24) rose 72 cents, or 1%, to close at $75.09 per barrel.

– The reference refining margin for the Singapore market at the last close (January 24) was $7.88 per barrel.

– The baht opened at 35.77, weak, ranging between 35.60-35.90 today, while monitoring the results of the European Central Bank meeting.

– FPO reduces the Thai economy in 2023, and is expected to expand by 1.8% annually, and in 2024 it will expand by 2.8% annually, which indicates that the Thai economy has not yet entered into a crisis. That's why it was negative for two quarters in a row. Keep an eye on household debt, which has more than 16.2 trillion baht outstanding, representing 90.9% of GDP. It is reported that tourism this year is scheduled to expand by 19.5%. Annually, the number of foreigners visiting Thailand reaches 33.5 million people, stressing that the FPO program is free and has nothing to do with politics.

– Kasikorn Bank takes a look at the trend of Thai stocks in the first half of the year. The “flow of money” continues to flow out due to various negative factors. Uncertainty about the Fed cutting interest rates is disappointing Chinese Economy – Risk of downturn Thai economy – Possibility of lower corporate profits Hopefully the Fed will cut interest rates and at the end of the second quarter, business liquidity strengthened. Restore trust

– “Seththa” reveals that he is preparing measures to stimulate the economy after the decline in “GDP”, pointing out that the measures do not include the digital wallet and confirming that there will be no interference in the production of GDP numbers, the FPO reduced the economic forecast for 2023 to 1.8 % due to the contraction of the industrial production sector for 14 consecutive months, indicating that the Thai economy is constantly expanding but has not yet reached the expansion stage. calamity.

– “Syria” is advancing towards the land bridge. We are confident that something will definitely happen within this government. Investors in Dubai-India are interested in going on a roadshow to China. He ordered the Attorney General's Office to study and seek the establishment of a Land Bridge Fund to compensate people without document rights. But it was affected by the confiscation.

– Lead the team in a stressful encounter in the Special Investigations Department to speed up the prosecution of more Stark suspects. After the District Attorney recently ordered additional investigations, a group of Stark Bond victims met with prosecutors to submit a letter seeking justice. The suspicions of the Special Investigation Department create a weak case after there is no case against Shinwat. Meanwhile, the Stark executives, Chanin-Wanrat-Ketsak and Yasoborn, have a high chance of survival, despite strong evidence. They are preparing for a DSI raid to solve their suspicions soon. Looking forward to January 26th. DSI will send additional documents after prosecutors respond

*Today's featured stocks

– ITEL (Finansia Cyrus) “buy” price target is 4 baht, 4Q23 profit is expected to grow 15% QoQ to 79 million baht, the highest quarter of the year and ends 2023 with a normalized profit of 269 million baht. + 2%. It's been a challenging year but it's passed. Recently, ITEL acquired 100% of GLS for 40 million baht. An accounting earnings could be coming in the first quarter of 2024. The purchase of GLS helps it expand into health technology, a market with potential. GLS is growing as a medical services provider. Specializing in CT/MRI, clients are currently public and private hospitals. “The product is an essential product and is in a high-growth market. We expect 2024 earnings to grow +20% year over year. The current share price is trading at a P/E of just 10.7x.

– The strategic target price for CPALL (BK:) (Liberator) is 70.00 baht, and Q4 2023 net profits are expected to increase both quarterly and year-over-year from entering the peak season, along with the recovery of the tourism sector. Additionally, sales and administrative expenses declined to revenue, and the SSSG for 7-Eleven and MAKRO Group improved nicely, while valuation traded somewhat below the historical average P/E.

– KTB (Dao) strategic target is 17.50 baht, and the share price fell by 10% after the budget came in wrong than expected. But after we started to see buying pressure return over the past couple of days, it is believed that selling pressure is likely to subside. The price should improve gradually. We view it as a short play. More than buy and hold

The share price decline occurred after the announcement of Q4 2023 net profit of 6 billion baht (-25% y/y and -41% q/q), lower than we expected – 35% of reserves, much higher than expected at 13 1 billion baht (expected 8.4 billion baht) of reserves for major clients and there are other expenses more than expected if we consider the provision as a one-time expense. Furthermore, this is the period of the fourth quarter where some expenses are typically recorded in the quarter. (Same for every bank) So it's not too negative. Stocks need to be sold and this kind of thing happened in Q4 2022 when stock prices (many banks) rebounded after their balance sheets were not good.

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