US stocks weighed by falling oil price: The Dow plunged by more than 140 points overnight on renewed concern over global growth after China and EZ reported the weaker-than-expected manufacturing PMI. In addition to a stronger US dollar, US benchmark oil price WTI fell for a second straight day by 2.5% or US$1.13 to US$43.65 a barrel as large oil producers reportedly ramped up output,
Light trading volume: Trading volume appears light today as investors are likely to back off for now ahead of the long holiday weekend and the SET’s demanding valuation. Trading range is thus expected to be within 1380, 1390-1410 points.
Earnings still in spotlight: Earnings results expected to release between May 4 and 11 are IRPC, TOP, PTTGC, ADVANC and THCOM. Most of which are expected to see contractions comparing to a year earlier period.
Short-term strategy: Selective play will continue to do well in current market conditions. Equity exposure should also be kept at 60% of the portfolio.
(1) Tourism recovery play: Hold onto AOT, CPALL and SPA shares.
(2) Earnings play: Long LH on upbeat outlook with profit expected to grow by more than 30%-40%, supported by strong 1QFY16 presales.
(3) Selective play: Let profits run on MAJOR.
(3) Selective play: Let profits run on MAJOR.
Source: poems.in.th / settrade.com
