Fed minutes indicate concerns about labor market: The minutes of the FOMC’s Jun 14-15 policy meeting said Fed policymakers wanted to await more evidence that the US labor market was back on track, highlighting the importance of US jobs report due to be released this Fri after a big miss in the latest set of jobs data. On the other hand, rebounding oil prices should keep bullish market sentimet intact.
Foreign and institutional investors turn net sellers of Thai shares: We see foreign and institutional sell-offs as only short-term profit-taking and the pace of selling may dissipate as investors are still awaiting key developments.
Door remains open for short-term trading opportunities: In our view, there remains room for short-term trading opportunities at current levels while the SET index looks poised to make new highs of the year today. Failure to break above the previous highs may set the stage for a correction. In this sense, we see any rises as an opportunity to take profits. The trading range for the SET index is expected to be between 1444-1465 points today.
Investment strategy: To play current market conditions, a selective strategy remains the preferred choice. Any rallies should be used as profit-taking pportunities.
(1) Tourism recovery play: Hold onto AOT.
(2) Selective play: Hold onto PTTGC and MAJOR.
(3) Upside momentum play: Hold onto TWPC, ERW
(1) Tourism recovery play: Hold onto AOT.
(2) Selective play: Hold onto PTTGC and MAJOR.
(3) Upside momentum play: Hold onto TWPC, ERW
Source: poems.in.th / settrade.com
