Mr.Thanomsak Saharatchai Assistant Managing Director and Head of Research, Asset Management Co., Ltd.Krung Thai Seamico Said that the Thai stock market overall this morning is likely to be a sideway upward swing after the meeting.Federal Reserve Bank (Fed) Has a fixed resolutionInterest rateShort-term at the level 0.00-0.25%, with indicating that FedWill continue to use every tool to support economic recovery in order to reach its full potential. And inflation rose above the target 2%.FedBond will continue to buy bonds on the quantitative easing (QE), which is as expected of the market. However, when the US economic stimulus will be agreed upon? And stay tuned on how Britain will break out of the European Union (Brexit) too.
The market is also positive from the progress of the COVID-19 vaccine. The US Food and Drug Administration (FDA) will approve the novel coronavirus vaccine. With the availability of the COVID vaccine, we expect the economy to recover.
However, the 1,495 index has not yet passed, so there is a chance to decline from a new round of profit-taking. Which lately, foreign investors do not buy much. While the fund has been sold out. And Thai stocks have risen a lot and have faced profit-taking force at any time, so foreign investors have slowed their investments, making them more open to medium-small stocks. And tomorrow, the position of the derivative will be closed, thus potentially having a lot of selling force.
Ready to provide support 1,475-1,466 points and resistance 1,490-1,495 points.
Investment considerations
- The latest New York Stock Exchange (Dec 16), the Dow Jones Industrial Average closed at 30,154.54 points, down 44.77 (-0.15%), the Nasdaq closed at 12,658.19 points, up 63.13 points (+ 0.50%), the S & P500 closed at 3,701.17. Increased 6.55 points (+ 0.18%)
- Asian stock markets opened today, SSE Composite Index, Chinese stock market rose 0.30 points, NIKKEI 225 index Japanese stock market fell 12.90 points, Hong Kong stock market HSI index rose 148.15 points, TAIEX index Taiwan stock market rose 21.70 points, KOSPI index, South Korea stock market fell. 1.90 points, FTSE STI Singapore stocks fell 5.83 points, Malaysia’s FBMKLCI index gained 2.85 points.
- The Thai stock market closed last (16 Dec 20) 1,482.09 points, up 4.88 points (+ 0.33%).
- Foreign investors net purchase of 1,167.43 million baht on 16 Dec ’20.
- WTI crude oil for January delivery in the Nimex market last closed (16 Dec’20) closed at 47.82 $ / barrel, up 20 cents, or 0.4%.
- The Singapore benchmark GRM closed last (16 Dec 20) at $ 0.80 / barrel.
- Thai baht opens 29.98 / 30.10 The trend continues to appreciate. Give a frame today 29.90-30.10
- 3 The Real Estate Association submitted 5 recommendations to stimulate the economy through the real estate sector to the Ministry of Finance, believing the government to support the previous measures. Along with adding new stimulus measures to temporarily cancel LTV to reduce credit rejection. Promote people to have their own housing Reveal the progress of the home fair Expanded the area of the event to 3 halls, after more than 260 of the property parades, bringing more than 1,000 projects, joined the boom. Confident of not less than 100,000 workers, expected sales of more than 4,000 million baht
- Asia Plus Securities Expects Thai Funds to Generate Profits Until Next Week After the index rose strongly, before there was a buy-back force at the end of the year from making “Window Dressing” Principal Asset Management pointed out that if the index reaches 1,400 points, it is an opportunity to buy. Krung Thai Asset Management assesses Thai stocks for the last 2 weeks to fluctuate.
- Mr. Kirati Kitmanawat Executive Vice President Engineering and Construction Airports of Thailand Plc. Revealed the progress of the Don Mueang International Airport Extension Project, Phase 3, the amount of 3.2 billion baht that AOT is in the process of preparing a report on changes in environmental impact assessment (EIA) for submission to the National Environment Board for consideration. Due to the change in project content from the original EIA report in 2000, which was prepared since the construction of Don Mueang Airport, this time AOT will construct a new third terminal building in the domestic building after Formerly, currently not in use. Which the Ministry of Natural Resources and Environment viewed that May cause the impact on the environment to change, so AOT has to make a new environmental impact assessment report.
- “Jurin” launched the project “Commerce, a big discount over the year!” Joins hands with a department store that sells the biggest price. The most longest throughout the country Giving as a New Year gift to Thai people, there are more than 22,000 items to join, the service fee is more than 500 items, a maximum reduction of 87% for a total of 45 days, expected to reduce the cost of living for people at least 1,000 million baht.
* Today’s featured stocks
- RBF (Finansia Syrus) “Buy” target 12 baht. Q4 / 63 trend remains strong because it is High Season and customers have new product releases. And indirectly benefited from half of the government spending stimulus measures and Shop Dee Mee returned. Recently, the factory operations in Vietnam are expected to help reduce the cost of transportation costs, with the 2020-2021 profit expected + 46% YY and + 18% YY respectively.
- MAJOR (Krungsri) “Buy” Target 23 baht Speculation with the movie “Wonder Woman” released today Expected to increase revenue to support MAJOR’s Q4 / 63 budget has a positive hope.
- AMATA (Kasikornbank) “Buy” raised the target to 21.60 baht from 17.70 baht to reflect the adjustment of the profit forecast and reduce the NAV discount rate to 40% from 50%. Progress of the vaccine availability against COVID-19. And the substantial pentup demand offset spending in Thailand and Vietnam are factors supporting the view. It is expected that land sales and good profits in 4Q20 will boost share prices in the short term.
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