Limited recovery with risks still present
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Market today
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| The SET rebound yesterday was a technical rebound and was expected, supported by China’s easing in its lockdown. However, major pressures still remain: hikes in interest rates to slow inflation and slowing economies, limiting the SET to resistances of 1,625 and 1,637; a short-term support range is 1,590-1,600. The signal would be negative if the SET falls below that. |
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Industry analysis
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Petrochemicals
– Depressed by slow demand & costly naphtha |
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Company analysis
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AAV
– 1Q22: In the red – Underperform
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AH
– 1Q22: Beat on good sales, gross margin – Outperform
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CENTEL
– 1Q22: Below estimates on weaker hotels – Neutral
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PSH
– 1Q22: Down YoY and QoQ – Underperform
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