Down on selling before a long holiday and economic worries
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Market today
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| The SET is expected to decline today on profit-taking to reduce risk ahead of a long holiday during which the FOMC meets and Q2 US GDP is reported. Plus, there are also negative economic signs after Walmart lowered its operating target and the IMF reduced its world GDP growth forecast. The SET has support between 1,535–1,545 and upside is limited at resistance between 1,560 - 1,565. |
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Industry analysis
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Bank
– 2Q22 recap: Slight beat on provisions and NIM (Presentation |
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Petrochemicals
– Product spread under greater pressure |
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Company analysis
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AP
– Expect 2Q22F to be up YoY but down QoQ – Outperform
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HMPRO
– 2Q22: In line with market estimates – Outperform
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SCCC
– 2Q22: Above market estimates – Neutral
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SCGP
– 2Q22: In line with estimates – Outperform
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