Kasikorn Securities opined the SET Index today will see correction in the range of 1,450-1,470 following a 7% upward adjustment this month, expecting positive sentiments due to the 50-bps rate cut by the US Fed and swift economy stimuli such as the THB 10,000 handout measure this week – recommending GPSC, TIDLOR, MOSHI, BA and MINT.
CGS International Securities (Thailand) assessed movement in the SET Index to be within 1,425-1,465 this week, with noteworthy observations on the resolution to the minimum wage adjustment and the “Small Lot First” allotment of Vayupak One on September 25.
Over 200 billion subscribed to Vayupak One – Mark Mobius of Mobius Capital Partners foresaw positive emerging markets due to the Fed’s rate cut, expecting influx of capital and flagging Thai stocks for investment; retail investors to receive 100 percent of investment units.
On September 24, Multibax PCL. (mai: MBAX) will be offering its RO at the price of THB 3.00 for the conversion of MBAX-W2 into 475,269 ordinary shares. At the same time, Future Park Leasehold Property Fund (SET: FUTUREPF) will have its securities suspended for 9 days (September 24 – October 9, 2024) to undergo conversion of its property fund into REIT.
The Siam Cement PCL. (SET: SCC) will publish the Roadshow Presentation prepared for investors attending the NDR in Seoul and Tokyo on its official website on September 23-24.
The Wall Street Journal is speculating a potential acquisition of Intel by Qualcomm since Intel has seen its stocks plunged over 60% this year. If so, the takeover would be one of the most consequential.
The Tokyo Stock Exchange will be closed for a day due to an Autumnal Equinox holiday.
The Ministry of Finance reiterated negative income tax (NIT) reform, revoking social welfare cards within 3 years in pursuit of specific packages tailored to different levels of income. Meanwhile, the Ministry of Commerce has announced its partnership with Wing Yip, the largest Chinese supermarket chain in the UK, to promote Thai products.
Prime Minister Paetongtarn Shinawatra has asked Chiang Rai officials to expeditiously clean up debris in the wake of recent flooding in Muang and Mae Sai districts. At the same time, Pheu Thai Party is defending its legalization of casino complexes, citing potential tax revenue.
Anura Kumara Dissanayake, an ideological Marxist, has won an election in Sri Lanka while promising to clamp down on corruption and recover Sri Lankan economy that has been through the worst financial crisis for many decades, as well to initiate debt restructuring as a significant part of IMF’s recovery plan.
Floods in Malaysia have displaced over 8,500 people in several states including Selangor, Perak, Sarawak and Kedah where the majority of displacement took place. Anwar Ibrahim, Prime Minister of Malaysia, announced a USD 3-million financial aid in support of flood victims in Kedah.
