Stock Market Update: Asian Stocks Fluctuate Amid Pressure from Crude Oil Prices and Economic Uncertainty

Mr.Asian stock marketwhich moves both in positive and negative range with pressure from pricescrude oilA drop above $2 could cause selling pressure. PTTEP There was a lot of speculation yesterday.

Meanwhile, TISCO Financial Group Public Company Limited (TISCO) reported 1Q2024 results, contracted profit of 3.3% YoY, and revealed that the outlook for the rest of this year would set reserves higher. As the economy is not expected to grow at all, non-performing loans (NPL) in the car loan sector may increase. and loans decreased as demand for new cars decreased.

Including the financial group, there is still ongoing pressure. After the Chairman of the Federal Reserve (Fed) announced that interest rate cuts could be longer. This has led investors to stress the possibility that the first interest rate cut by the Fed will be postponed until September. from the first expectation in June As a result the interest rate cut by the Monetary Committee (MPC) of Thailand will also be postponed.

The support is 1,355 points and the resistance is 1,375 points.

* Investment consideration matters

• New York Stock Exchange (April 18) The Dow Jones industrial average closed at 37,753.31 points, down 45.66 points or -0.12%, the S&P 500 index closed at 5,022.21 points, down 29.20 points or -0.58%, and the Nasdaq index closed, 83 at .153. points, down 181.88 points or -1.15%
• Asian stock markets are open today. The Nikkei Index opened at 37,745.04 points, down 216.76 points or -0.57%, and the Hang Seng Index opened at 16,253.24 points, up 1.4 points or +0.008%, and the Shanghai Composite Index opened at 3,060.03 points or -1.03 % points.
• The Thai stock market recently (April 18) closed at 1,366.94 points, down 29.44 points (-2.11%), trading value 62,396.97 million baht.
• Net foreign investors sold 6,450.75 baht (April 18)
• The price of WTI crude oil for delivery in May (April 18) down 2.67 dollars or 3.13%, closing at 82.69 dollars / barrel.
• The most recent reference refining margin at the Singapore market (April 17) was $4.46/barrel.
• The baht opened at 36.75, tracking foreign flows.
• The “Orange Line” issue is coming to an end. Approval from the Cabinet, and it is under the authority of the Committee and the MRTA In terms of listening to opinions from the private sector, it does not come to discrimination and it does not violate “BTS”. a meeting of the full panel of the court to make a final decision.
• STARK announces its application for debt repayment in the “Phelps Dodge” business rehabilitation totaling 25,541 million baht, and indicates whether it will receive debt repayment as request or not depends on the resolution of the meeting of credit planners Use your right to object.
• JKN has drawn up a plan and timeline to expedite a business rehabilitation solution after April 23. The court has scheduled an appointment to hear the rehabilitation order and appoint a plan maker. Prepare to plan to “Cut down losing businesses” and prepare to sell businesses that still have value to support liquidity. As for the steps to be taken according to the plan, it is expected to be in January next year.
• BOI reveals 7 large Chinese EV battery manufacturers interested in investing in Thailand, 2 of which are ready to pilot 30 billion to set up factories. The Department of Finance is preparing for a review of inheritance tax

New, fill gaps to avoid paying​​​​ an increase of 400 baht.

* Special stores today

• SAPPE (IRA) recommends a “speculative buy” with a target price of 96 baht, assessing the profit trend for 1Q24, profit making a new high at 331 million baht from increased sales. which comes from sales left at the end of last year and sales in other countries Better from the hot weather Including the release of new products And still looking at momentum in the 2nd-3rd quarter of 2024, still continuously making new high profits.
• BBL (Krungsri) recommends “Buy” with a target of 162 baht This is one of the main banks that will benefit from the continued high interest rate guidance. And next week it will report operating results for 1Q24, expecting a profit of 11.8 billion baht, an increase of 33% QoQ and 17% YoY, benefiting from high interest rates in the medium-term picture.
• CPALL (Liberator) recommends “Buy” with a target of 72 baht, still supported by better spending. As a result, the operating performance guidance for the 1st quarter of 2024 is expected to continue to grow and will also allow SSSG to grow well and the Valuation is at an affordable level. along with positive expectations regarding the government’s economic stimulus policies. Especially the digital wallet project that will be added at the end of the year.