Sawasdee – April 26, 2022
Limited recovery and still has downside overall |
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| Market outlook & strategy | ||||
| The SET is seen to have a limited recovery with resistances at 1,680-1,690 due to negative factors from: 1) rapid steps up in interest rate by the Fed accompanied by rapid reduction in the balance sheet; and 2) lockdown in China due to COVID-19 outbreak, heavily affecting the economy and causing a disruption in the supply chain. Supports are at 1,666 and 1,655. We suggest a “Selective Buy” strategy of selecting good-quality defensive stocks with positive drivers to reduce portfolio volatility. | ||||
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| Company analysis | ||||
| GGC – Strong 1Q22F profit expected but priced in – Neutral | ||||
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