To move narrowly between 1,530 and 1,540; watch the ECB meeting
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Market today
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The SET is expected to move narrowly on lack of support and volume, limiting the upper bound to 1,545 and 1,555 and lower bound to 1,530 and 1,520, which are SET supports. The SET has fallen, already incorporating the fears of higher interest rates. Today’s highlight is the ECB meeting. It is expected to raise interest rate by 25bps but may up the rate by 50bps. |
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Company analysis
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BAY
– 2Q22: Slight beat on lower provisions – Neutral
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CBG
– Impact from Myanmar’s bank restrictions – Downgrade to Neutral
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GFPT
– Continued improvement in 2Q22F – Outperform
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KKP
– 2Q22: Beat on lower provisions – Outperform
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TTB
– 2Q22: Beat on lower-than-expected provisions – Neutral
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