Sawasdee – July 25, 2022

Tags: BJC, ERW, Bank

Moving up but limited by next week’s market movers

Market today
The SET is expected to be pulled down by selling to curtail risk before the FOMC meeting on July 26-27 and 2Q22 US GDP on July 28, plus the SET is closed on July 28-29. One issue to follow is the monkeypox situation after the WHO said it is a global health emergency, making it a short-term negative factor for the market. Resistance is between 1,560 and 1,570 and support is between 1,530 and 1,540.

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Industry analysis
Bank - 2Q22: Beat on lower provisions, better NIM
 
Company analysis
BJC - Continuing to grow YoY in 2Q22F - Outperform
ERW - Preview 2Q22: Improving YoY and QoQ - Outperform