InnovestX Securities stated via “Kaohoon Jor Talad” program on 19 February 2024 that the outlook for the Thai stock market this morning edged lower following the recognition of a number of factors and the lower fund flow from foreigners compared to other markets.
Stocks in the Thai market were mostly laggarded following the decline of big-cap stocks and the announcement of lower-than-expected GDP figures. However, the analyst expected the economy to recover in the second half of 2024, as the outlook for economic stimulus measures became more explicit, which would attract fund flows from foreign investors.
As for overseas factors, the analyst suggested monitoring the adjustment of the US market rebasing as the S&P 500, NASDAQ 100, and DJIA indexes continued to increase. Moreover, the near-end of the announcement for corporate earnings from listed companies and the high interest rates could create risks for the adjustment and negatively affect markets around the world.
Regarding investment strategies, the analyst suggested investors be cautious during this period and recommended investing in big-cap stocks, such as stocks related to PTT Group and power plant stocks, as they reported positive corporate earnings with constantly positive trends. The analyst also gave a “Speculative-Buy” to CPALL, as the company was expected to announce positive business performance with a forecast for its stock to grow.
