Daily Strategy: KSS Recom. Accumulate at 1,600pts, Mid-Long Term Outlook Remains Positive
Krungsri Securities recommended investors to accumulate stocks at 1,600 index level, while mid and long-term outlook remained positive.
Krungsri Securities recommended investors to accumulate stocks at 1,600 index level, while mid and long-term outlook remained positive.
29 ก.ย. 2564

Stocks in Asia traded lower on Wednesday, following the plummet in Wall Street last night, and a drop in oil prices more than 1%.
 
On September 29, 2021, Thailand’s SET Index opened at 1,607.05 points, decreased 9.45 points or 0.58%.
As of 10:05 local time in Thailand, Nikkei plunged 2.46%, Shanghai Composite dropped 1.72%, Hang Seng Index slipped 0.53%, Australia ASX 200 fell 1.21%. Meanwhile, Indonesia IDX Composite rose 0.15%.
 
Over the night, U.S. stocks fell sharply on Tuesday as 10-year Treasury yields traded rose to near three-month high at 1.567% amid an unsettled debt-ceiling bill. Nasdaq plunged 2.83%, S&amp;P 500 dropped 2.04% and Dow Jones decreased 1.63%.
 
Meanwhile, U.S. crude stockpiles unexpectedly rose last week by about 4.1 million barrels, which was in contrast to a draw of 2.3 million barrels by economists. Brent crude topped three-year high above $80 before closing lower at $79.09 per barrel. West Texas Intermediate fell to $74.33 a barrel.
 
Mr. Chaiyot Jiwangkul, Assistant Director of Krungsri Securities (KSS), through “Kaohoon Jor Talad Program” on September 29, 2021, stated that there is a sign from the U.S. Fed in concerns over inflation rate, triggering a selloff from investors to lower their holding in risk assets.
As for today’s overall outlook, Mr. Jiwangkul expected a support level for today at 1,600-1,610 as a level for accumulation, but the outlook for mid and long-term is still positive.
The analyst recommended stocks benefiting from baht depreciation that continues in an upward trend, picking TU with a target price at Bt22.60 per share.