Thai stocks today Adjusted following the Dow Jones' strong positives. The Fed sends a signal to reduce the budget and keep an eye on US inflation.

Thai stocks today, 11 July, analysts expect to increase. According to the Dow Jones index which is increasing strongly. After the Fed signaled that keeping interest rates high for too long may affect the economy. It reflects that if the next report of inflation numbers slows down, the market may give weight to the Fed cutting interest rates in September. more

Mr. Sarawut Techochavalit, Senior Director of Securities Analysis at RHB Securities (Thailand), said that the Thai stock market is expected to rise today, following the strong gains in the Dow Jones index. This comes after Federal Reserve Chairman Jerome Powell signaled that keeping interest rates too high for too long could negatively impact economic growth. This reflects the expectation that if the next inflation report shows a slowdown, the market will likely be supported by expectations of the Fed's first interest rate cut in September. The market anticipates lower headlines and stable core CPI figures, but a decline in core CPI would increase the likelihood of a September rate cut.

In addition, since the uptick measure was implemented on July 1, it was found that the proportion of short selling has decreased significantly, remaining only 4%, resulting in the market becoming more stable. Foreign investors have gradually started to close short futures contracts, leaving only 29,000 contracts from the beginning of the year to the present (YTD). However, from last month there were approximately 1 contracts. However, this may affect the trading volume. Last month, the average trading volume was 3.9 billion baht, and now the 10-day average is 3.5 billion baht, a decrease of approximately 4,000 million baht.

We recommend investing in TRUE CPF BH stocks, which are expected to have good 2Q67 operating results and the power plant group. At a relatively low price, there is an opportunity to move up and benefit from the Fed cutting interest rates in September. Like the financial group, SAWAD is emphasized.

It is expected that today the index will test the resistance level of 1,330 points, the next resistance level of 1,350 points and the support level of 1,315 points.

InnovateX Securities expects the SET Index, despite positive sentiment following the Fed Chairman's testimony to Congress, which raised hopes of a September interest rate cut, to have limited upside due to technical indicators showing overbought conditions and investors awaiting US inflation data tonight. Resistance levels are seen at 1,330 and 1,335 points, respectively, while support is at 1,310-1,315 points.

In the short term, the SET index remains fragile and volatile within a narrow range due to the prolonged domestic political situation. Meanwhile, international factors are likely to provide support, possibly signaling further monetary easing from the Fed chairman. The US CPI for June is expected to slow to 3.1% YoY from 3.3% YoY in May, amidst weaker labor market figures. Therefore, our investment strategy recommends a "Selective Buy".

Krungsri Securities expects the SET Index to be "up" today, with resistance at 1,335/1,340 points and support at 1,316/1,312 points. The S&P 500 index hit an all-time high, surpassing 5600 points. The technology sector led the index after TSMC reported better-than-expected 2Q24 sales, coupled with a 0.85% rise in WTI oil prices driven by OPEC's upward revision of global and oil economic forecasts, and a larger-than-expected decrease in US crude oil inventories. This positively impacted the SET Index, which has a significant proportion of upstream energy stocks (10-11% of market capitalization).

As for today, follow the June 24 inflation report in the US. The market expects the Core CPI level to be +3.4%yy +0.2%mm, same as prev., while Top Rank Economists expect it to be slightly lower than that. There may be a positive surprise supporting the easing monetary policy cycle. The US is close

Internally, accelerating fiscal policy is the main support. Both Digital Wallet has preliminary conclusions. Even though the total amount of money has decreased 4.5 billion baht But it will be able to be pushed quickly + there will be less impact on fiscal discipline. In addition, the internal Long Term Fund is close to supporting the ThaiESG market in the Cabinet on 16 July, Wayupak (Oct. 2024) supports SET to continue rising

Recommend Big Cap in groups that benefit from lower yields (power plants, parts, leasing, high debt, high growth). Today choose GULF, DELTA, HANA as outstanding stocks.