Global Securities (GBS) estimates that Thai stocks will swing sideways this week on concerns about US bond yields reaching a 16-year high. Meanwhile, domestic factors are still awaiting economic stimulus policies from the government. Therefore, the index range is 1500-1550 points, with a recommendation to invest in 3 existing stocks to benefit from government policy. Reduce electricity bills – Free visa – Donate digital money worth 10,000 baht per person.
Factors that need to be monitored in the country, such as what happened today, September 26, said Ms. Wilasini Bomasong Song, Senior Director of GBS Research, Ministry of Commerce. Statement on International Trade Situations, September 27, Monetary Policy Committee Meeting No. 5/2023 (Most economists in a Reuters poll expect the Bank of Thailand (BOT) will keep interest rates at 2.25% on September 29. Bank of Thailand (BOT) reports On the Thai economic situation. In the fourth week, the Fiscal Policy Office (FPO) issued a report on the financial economic situation. Regional economic conditions and confidence index in the regional economic future The Office of Industrial Economics (OIE) announces the industrial index.
As the global economic outlook began to show negative signs, China Evergrande Group, a Chinese real estate developer, was unable to issue new bonds, dealing a new blow to Evergrande’s debt restructuring plans. Geopolitical risks remain as a result of the Russian Foreign Minister’s visit to North Korea next month. The United States is in talks with Vietnam about the largest arms sales deal in history, which could anger China and prevent Russia from selling weapons to Vietnam.
In this regard, the external factors to watch today, September 26, are the US reports on house prices in July. September Consumer Confidence Index and August New Home Sales On September 27, China reported industrial profits for August. US reports durable goods orders in August and weekly oil inventories on September 28. The United States announces the number of weekly unemployment claims, 2Q23 GDP numbers (final), and the number of home sales contracts awaiting closing (pending home sales) in August. . On September 29, the European Union announced preliminary inflation rates for September. The United States announces the Personal Consumption Expenditures Price Index for August and the Consumer Confidence Index for September. On September 30, China announced the Purchasing Managers’ Index (PMI) for the manufacturing sector and the Purchasing Managers’ Index (PMI) for the services sector in September. There is a September 30 deadline for Congress to pass new budget legislation to provide the government with spending money and avoid a shutdown.
Therefore, we recommend investment strategies in 3 distinct groups of stocks that benefit from government policy, such as 1. Groups that benefit from electricity cost reduction measures according to the Cabinet decision, including HMPRO, GLOBAL, DOHOME, CPALL, CPAXT and CRC. 2. Stocks that benefit from the visa free policy include AOT, CENTEL, ERW, SPA, RP and AU 3. Stocks that benefit from the digital fund distribution policy of 10,000 baht each include HMPRO, DOHOME, GLOBAL, ILM, COM7, CPALL, CRC, MAKRO, TNP.KK
As for the direction of investment in gold, Mr. Natawot Wongiawarak said, “The Director of Research at Globlex Securities is evaluating the general picture of gold this week and recommends following the economic numbers.” US Consumer Confidence Fed Chairman’s Speech and Personal Inflation Rate in the US
The research department estimates that gold prices this week will move sideways in the range of $1900-1940 per ounce. This is because it is still under pressure from the rise in the US 10-year bond yield, which has continued to rise to a 22-year high of 4.49%, as well as fears that the Federal Reserve will raise interest rates at its meeting in May. The month of September is considered a pressure factor on the rise in gold prices in the medium term.
By InfoQuest News Agency (September 26, 2023)
Tags: GBS, SET, Nattawut Wongyaowarak, Gold, Wilasinee Bunmasungsong, Thai Stocks, Globlex
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