Limited recovery and still has downside
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Market today
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| We see limited recovery for the SET with a resistance range of 1,673-1,680 and downside with supports at 1,660 and 1,650, pressured by the FOMC’s rapid raise in interest rate and reduction in the balance sheet expected at this week’s FOMC meeting. Additional pressure comes from higher price for diesel locally that will raise costs for businesses and continued high inflation that will inhibit economic growth. We recommend a “selective buy” strategy in high-quality defensive stocks with positive drivers to reduce portfolio volatility. |
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SCBS data book
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SCBS Data book
– A look back at Apr and ahead to May |
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Industry analysis
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Energy – Oil Refinery
– More promising earnings outlook |
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Food
– Rising livestock prices to cover high feed costs |
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Company analysis
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AEONTS
– Decent recovery ahead – Neutral
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CRC
– Growth YoY expected in 1Q22F – Outperform
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