Short-term benefit from slowing US inflation, but overall upside is limited
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Market today
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The short-term support provided the SET by a slowing in US July inflation is already partly in the market, and we recommend being cautious of selling after the end of 2Q22 quarterly report season. Overall the SET has limited upside, with resistance between 1,620 and 1,628; the lower bound is a support line of 1,605. Falling below this is a negative signal; next support will be at 1,590. |
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Company analysis
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BJC
– 2Q22: Good, in line with estimates – Outperform
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BLA
– 2Q22: Beat on investment gain – Outperform
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CPALL
– 2Q22: Below estimates – Outperform
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IVL
– 2Q22: Profit continues to improve QoQ – Outperform
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KEX
– 2Q22: Weaker than expected – Underperform
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PTTGC
– 2Q22: Still hurting from hedging loss – Neutral
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SAT
– 2Q22: In line with market estimates – Underperform
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TIDLOR
– 2Q22: Stronger NII offset by provision hike – Outperform
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