Kasikorn Securities speculated today’s movement in the SET Index to be in the range of 1,440-1,450 with continuous uptrend in connection with the first phase of THB 10,000 handouts, on top of support from local and foreign fund flows as Thai Baht improves to THB 33 per USD 1 – recommending CPALL and BA.
CGS International Securities assessed the SET Index varies between 1,440-1,460 with chances to collect domestic play stocks. Meanwhile, Vayupak has gathered over THB 190 billion from investors, a THB 150 billion over estimation by the Ministry of Finance.
Finansia Syrus Securities stuck to Sideway swing within 1,440-1,460 even with positive sentiments from foreign investment, an ongoing hope for further rate cut by the Fed, and the Chinese stimulus measures. Nonetheless, overall SET Index still signals technical Overbought following a steep incline last month.
Mr. Chousak Sirinil, Minister of the Prime Minister’s Office insisted the amendment to the constitution proposed by Pheu Thai Party, regarding ethical standards for political officials, would not affect its essence against corruption. Meanwhile, former senate Somchai Sawangkarn warned of a futile attempt to pardon former Prime Minister Thaksin through such an amendment.
Mr. Sittichai Duangrattanachaya, Senior Investment Strategist of InnovestX Securities expects high volatility in 4Q due to external factors, especially the US election of which the polls show both candidates toe to toe, while the Fed’s rate cut assists with growth in emerging markets in comparison to the developed one.
Mr. Ekniti Nitithanprapas, Director-General of the Excise Department, disclosed the amount of investment in EV production bases in Thailand has reached THB 80 billion, following EV promotion measures introduced by the government.
In addition to Chiang Rai and Chiang Mai, Loei is now severely flooded with over 200 households submerged while the Department of Disaster Prevention and Mitigation revealed six provinces affected by the ravaging water. The Deputy Minister of Agriculture is preparing a recovery measure as the Prime Minister orders a meeting to convene today.
The European economy might be facing risks of recession as Germany and France combat political turmoil and domestic economy, resulting in dramatically reduced business activities.
Japan has issued a tsunami warning following a 5.9 magnitude earthquake, expecting 1-meter waves to rapidly arrive at Izu and Ogasawara islands by 9:00 a.m. local time.
