1) FSS expects SET Index between 1,520-1,540 points after a two-day winning streak
Finansia Syrus Securities (FSS) expected Thailand’s SET Index to move in a sideways trend within the range of 1,520-1,540 points after a strong gain in the past two sessions in response to the probability of the Pheu Thai Party taking the lead in forming the coalition government. Even with the prolonged political issues in Thailand, looking ahead the market would react positively if Pheu Thai could form a government due to its friendlier political campaign to the equity market.
2) Agri commodity prices rise as Russia ends grain deal
Prices of agri commodities rose after the report that Russia will withdraw from a humanitarian corridor in the Black Sea to deliver Ukrainian grains to global markets, raising concerns of supply shortage in food security.
Wheat futures increased 3% on Monday, reaching a high of 689.25 cents per bushel, which was the highest level since June 28. Still, it remains below the peak levels of 1,177.5 cents per bushel reached in May last year.
Meanwhile, corn futures rose to 526.5 cents per bushel and soybean futures jumped to 1,388.75 cents per bushel.
3) India will likely become Apple’s main growth driver
India is likely to become a main driver for Apple’s growth in the next five years, according to analysts from Morgan Stanley, citing Apple’s investment in manufacturing in the world’s most populous country.
Morgan Stanley increased the target price of Apple from $190 to $220, based on the projection of revenue-driven Indian market with a bull-case valuation of $270 a piece.
