Daily Market Outlook - asiawealth.co.th fileresolutely against the National Reform Council’s...
Transcript of Daily Market Outlook - asiawealth.co.th fileresolutely against the National Reform Council’s...
19 November 2014
Daily Market Outlook
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Upbeat ending to the week
Expect the SET to continue trading up today, as local and global
stars align to provide upward momentum. Locally the good news
regarding tourism and rice exports will strengthen optimism
regarding next year and globally the dovish sentiments from the
Fed, reinforced by recent data, will continue to help both local and
regional equities today.
Local issues: Plan to have directly elected PM unlikely to pass. Constitution
Drafting Committee (CDC) chairman Borwornsak Uwanno is
resolutely against the National Reform Council’s proposal to have
the PM and cabinet directly elected. Amongst the five key reasons
Mr. Borwornsak listed is that such a ‘winner-takes all’ system
could exacerbate vote-buying as the potential gain from vote-
buying by any one wealthy individual increases. (Bangkok Post).
SET aims to increase institutional investors’ share. SET
President said as part of the bourse’s five-year plan starting from
2015 the SET aims to raise ratio of institutional investors from the
current 30-40% to 50% by 2020 to cushion against potentially
high fluctuations. The comments followed Monday’s 9.2%
intraday slide on panic selling from rumors. (Bangkok Post)
Expected boost to tourism over New Year festival. According
to world’s largest travel site TripAdvisor, Bangkok is the world’s
10th most popular destination for celebrating the New Year
festival, the only Asian country on the list. High demand is
expected to allow average room rate for three and four-star hotels
in Bangkok to rise by 18% to Bt2,499/night. The Tourism Authority
of Thailand (TAT) expects falling oil prices, cooler weather and
extended holiday period to boost tourism. (Bangkok Post)
Renewed strength in rice exports. A report by the UN Food and
Agriculture Organization (FAO) predicts that Thai rice exports will
reach 10.2mn tons by year-end, just 500,000 less than 2011’s all-
time high. The report cites the end of the pledging scheme in
renewing the competitiveness of Thai rice on the global market.
Report sees Thai shipments increasing 54.2% YoY from 6.6mn
tons last year, moving country past India as biggest rice exporter.
(Bangkok Post)
KKP has partnered with General Life Assurance (Thailand) to
distribute the company’s life insurance products for 15 years. This
collaboration is expected to strengthen both the bank and the
Thailand Research Department:
Mr. Warut Siwasariyanon (No.017923) Tel: 02 680 5041
Mr. Narudon Rusme (No.29737) Tel: 02 680 5056
Mr. Napat Siworapongpan (No.49234) Tel: 02 680 5094
Major Indices Close Chg %Chg
SET 1,516.79 +36.6 +2.5
SET50 1,013.14 +28.1 +2.9
SET P/E (x) 18.0
SET P/BV (x) 2.2
SET Div. Yield (%) 2.9
Dow Jones 17,778.15 +421.3 +2.4
S&P 500 2,061.23 +48.3 +2.4
NASDAQ 4,748.40 +104.1 +2.2
UK 6,466.00 +129.5 +2.0
Germany 9,811.06 +266.6 +2.8
France 4,249.49 +137.6 +3.3
Japan 17,210.05 +390.3 +2.3
South Korea 1,897.50 -2.7 -0.1
Hong Kong 22,832.21 +246.4 +1.1
China 3,057.88 -3.1 -0.1
Taiwan 8,878.63 +50.3 +0.6
Singapore 3,243.65 +16.4 +0.5
Malaysia 1,699.95 +18.1 +1.1
Indonesia 5,113.35 +77.7 +1.5
Philippines 7,029.28 +63.1 +0.9
Trading Summary Buy Sell Net
Institution 10,447 3,524 6,923
Proprietary 4,345 4,872 -527
Foreign 9,493 10,691 -1,198
Individuals 27,835 33,033 -5,198
Total Trading Value 52,120 Btmn
Most Active Value Value Close %Chg
PTT 3,080 335.00 +6.3
PTTEP 2,981 117.50 +6.8
PAF 2,410 5.85 +30.0
KBANK 2,175 233.00 +3.1
TRUE 1,936 11.80 +2.6
Commodity Futures Close Chg %Chg
US Crude 54.11 -2.4 -4.2
Brent Crude 59.27 -1.9 -3.1
Gold 1,194.80 +0.3 +0.0
FX Rates Close Chg %Chg
USD/THB 32.84 -0.1 -0.2
EUR/USD 1.23 -0.0 -0.5
USD/JPY 118.82 +0.2 +0.2
USD/CNY 6.21 +0.0 +0.3
Source: Bisnews, Bloomberg
19 November 2014
Daily Market Outlook
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company’s bancassurance businesses and serve the spectrum of customer
needs comprehensively. (The Nation)
PSTC (IPO price Bt0.65) trades for the first day today (19 Dec 14). PSTC’s
management believes a first public trade of PSTC’s shares would be appropriate
after investors have responded well to it. With a Bt300mn IPO issuance, PSTC
plans to expand its renewable energy investment, apart from existing solar power
plants & roofs of 3.96 MW total capacities, with a new biomass power plant, 0.99
MW expected, and other future projects from other energies (Wind, thermal
energy) which PSTC is developing and studying feasibility. (InfoQuest/ Company
report) SLC (Solution Corner (1998) Plc), a software & IT solutions provider and the
parent company of Springnews Television, yesterday announced it had acquired
a 12.27% equity stake in Nation Multimedia Group (NMG) for Bt1.04bn and 225
million units of NMG-W3. SLC said the acquisition was a strategic investment
while NMG will remain firm in its duties as a mass media operator and there was
no significant change in NMG's business plan. (The Nation)
Global issues USA Data emphasizing need for ‘patience’. Following Thursday’s statement from
that Fed that “it can be patient in beginning to normalize the stance of monetary
policy”, somewhat shaky employment data also released yesterday reinforced
that dovish sentiment. US Markit Services flash December PMI 53.6 versus 56.9
and the sector activity growth being slowest since February, both underlined
continued unsteadiness in the economic recovery. All this allowed Wall Street to
trade up considerably, with the Dow increasing 2.43%, NASDQ 2.24% and
S&P500 2.40%. (Reuters)
Delay to Volcker rule. The US Fed said it will give banks until 2017 to comply
with some parts of the Volcker regulations on proprietary trading, a development
likely to both boost their bottom lines and also mitigate medium-term liquidity
shortfall. (BBC)
Europe Boosted by improved macro outlook. Both the Fed statement and news from
Europe itself – that German finance minister says Greece is in better shape than
expected –, as well as continued expectations of further ECB measures, allowed
European equities to surge strongly. The DAX improved 2.79%, while CAC
increased by 3.35%, the FTSE by 2.04% and Milan by 2.65%. (Reuters)
Commodities Oil continued trading down Thursday, due to renewed fears of over-supply. Bret
traded down $1.91 to close at US$69.27/barrel while WTI traded down US$2.36
to close at US$54.11/barrel. Reuters)
Gold adjusted up Thursday following Fed’s dovish sentiment and the consequent
easing of inflation expectations. Gold adjusted up 30 cents to close at
US$1,194.80/ounce. (Reuters)
19 November 2014
Daily Market Outlook
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Date Regions
16-Dec-14 CNY
EU
US
17-Dec-14 EU
US
US
US
19-Dec-14 JPY
Mon Tue Wed Thu Fri
1 2 3 4 5
XD
WHAPF : 0.181 Bt
8 9 10 11 12
XD
CITY : 0.16 Bt
IRC : 0.6269 Bt
15 16 17 18 19
XD
AOT : 3.40 Bt
XD
UIC : 0.04728 Bt
22 23 24 25 26
29 30 31
Fed Interest Rate Decision
BoJ Press Conference
December 2014
Economic Indicators
HSBC Manufacturing PMI
Makrit Manufacturing PMI
Makrit Manufacturing PMI
Consumer Price Index
Consumer Price Index
Fed's Monetary Policy Statement
19 November 2014
CG Report
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Corporate Governance Report of Thai Listed Companies (CGR). CG Rating by the Thai Institute of Directors Association (IOD) in 2013.
ADVANC BTS GRAMMY MCOT PTT SC SSI TMBAOT CIMBT HANA MINT PTTEP SCB SSSC TNITYASIMAR CK HEMRAJ NKI PTTGC SCC SVI TOPBAFS CPF ICC NOBLE QH SCSMG SYMC TRCBANPU CPN INTUCH PAP RATCH SE-ED TCAP TRUEBAY CSL IRPC PG ROBINS SIM THAI TTWBBL DRT IVL PHOL RS SIS THCOM TVOBCP DTAC KBANK PR S&J SITHAI THRE UVBECL EASTW KKP PRANDA SAMART SNC TIP VGIBKI EGCO KTB PS SAMTEL SPALI TISCO WACOALBROOK ERW LPN PSL SAT SPI TKT
2S ASP CHOW GBX JUBILE LRH NMG PPP SINGER TCP TOG UACACAP AYUD CM GC KBS LST NSI PREB SIRI TF TPC UMIAF BEC CNT GFPT KCE MACO NWR PRG SKR TFD TPCORP UMSAHC BFIT CPALL GL KGI MAJOR OCC PT SMT TFI TPIPL UPAIT BH CSC GLOW KKC MAKRO OFM PYLON SNP THANA TRT UPOICAKP BIGC DCC GOLD KSL MBK OGC QTC SPCG THANI TRU UTAMANAH BJC DELTA GSTEL KWC MBKET OISHI RASA SPPT THIP TSC VIBHAAMARIN BLA DTC GUNKUL L&E MFC PB SABINA SSF TICON TSTE VIHAMATA BMCL ECL HMPRO LANNA MFEC PDI SAMCO STANLY TIPCO TSTH VNGAP BWG EE HTC LH MODERN PE SCCC STEC TK TTA VNTAPCO CCET EIC IFEC LHBANK MTI PF SCG SUC TLUXE TTCL YUASAAPCS CENTEL ESSO INET LHK NBC PJW SEAFCO SUSCO TMILL TUF ZMICOASIA CFRESH FE ITD LIVE NCH PM SFP SYNTEC TMT TWFPASK CGS FORTH JAS LOXLEY NINE PPM SIAM TASCO TNL TYM
A ASIA CITY EASON HTECH KASET MJD PL SF SVOA TMI UOBKHAAV BAT-3K CMR EMC HYDRO KC MK POST SGP SWC TNDT UPFAEC BCH CNS EPCO IFS KCAR MOONG PRECHA SIMAT SYNEX TNPC UWCAEONTS BEAUTY CPL F&D IHL KDH MPIC PRIN SLC TBSP TOPP VAROAFC BGT CRANE FNS ILING KTC MSC Q-CON SMIT TCCC TPAC VTEAGE BLAND CSP FOCUS INOX KWH NC QLT SMK TEAM TPP WAVEAH BOL CSR FPI IRC LALIN NIPPON RCI SOLAR TGCI TR WGAI BROCK CTW FSS IRCP LEE NNCL RCL SPC TIC TTI WINAJ BSBM DEMCO GENCO IT MATCH NTV ROJNA SPG TIES TVD WORKAKR CHARAN DNA GFM JMART MATI OSK RPC SRICHA TIW TVIALUCON CHUO DRACO GJS JMT MBAX PAE SCBLIF SSC TKS TWZANAN CI EA GLOBAL JTS MDX PATO SCP STA TMC UBISARIP CIG EARTH HFT JUTHA PRINC PICO SENA SUPER TMD UEC
Corporate Governance Report disclaimer
The disclosure of the survey result of the Thai Institute of Directors
Association (“IOD”) regarding corporate governance is made pursuant
to the policy of the Office of the Securities and Exchange Commission.
The survey of the IOD is based on the information of a company listed
on the Stock Exchange of Thailand and the Market for Alternative
Investment disclosed to the public and able to be accessed by a
general public investor. The result, therefore, is from the perspective of
a third party. It is not an evaluation of operation and is not based on
inside information.
The survey result is as of the date appearing in the Corporate
Governance Report of Thai Listed Companies. As a result, the survey
result may be changed after that date, Asia wealth Securities Company
Limited does not conform nor certify the accuracy of such survey result.
Score Range Number of Logo Description
90 – 100
80 – 89
70 – 79
60 – 69
50 – 59
Excellent
Very Good
Good
Satisfactory
Pass
20 November 2014
Contact
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This report has been prepared by Asia Wealth Securities Company Limited (“AWS”). The information herein has been obtained from sources believed to be reliable and accurate, but AWS makes no representation as to the accuracy and completeness of such information. AWS does not accept any liability for any loss or damage of any kind arising out of the use of such information or opinions in this report. Before making your own independent decision to invest or enter into transaction, investors should study this report carefully and should review information relating. All rights are reserved. This report may not be reproduced, distributed or published by any person in any manner for any purpose without permission of AWS. Investment in securities has risks. Investors are advised to consider carefully before making decisions.
Branch Address Phone Fax
Head Office 540 Floor 7,14,17 , Mercury Tower, Ploenchit Road, Lumphini,
Pathumwan Bangkok 10330
02-680-5000 02-680-5111
Silom 191 Silom Complex Building,21st Floor Room 2,3-1 Silom Rd.,
Silom, Bangrak, Bangkok, 10500 Thailand
02-630-3500 02-630-3530-1
Asok 159 Sermmitr Tower, 17th FL. Room No.1703, Sukhumvit 21
Road, Klong Toey Nua, Wattana, Bangkok 10110
02-261-1314-21 02-261-1328
Pinklao
7/3 Central Plaza Pinklao Office Building Tower B, 16th Flr., Room
No.1605-1606 Baromrajachonnanee Road, Arunamarin,
Bangkoknoi, Bangkok 10700
02-884-7333 02-884-7357,
02-884-7367
Chaengwattana
99/99 Moo 2 Central Plaza Chaengwattana Office Tower, 22nd Flr.,
Room 2204 Chaengwattana Road, Bang Talad, Pakkred,
Nonthaburi 11120
02-119-2300 02-8353006
Chaengwattana 2
9/99 Moo 2 Central Plaza Chaengwattana Office Tower, 22nd Flr.,
Room 2203 Chaengwattana Road, Bang Talad, Pakkred,
Nonthaburi 11120
02-119-2388 02-119-2399
Mega Bangna 39 Moo6 Megabangna, 1st Flr., Room 1632/7 Bangna-Trad Road,
Bangkaew Bangplee, Samutprakarn 10540
02-106-7345 02-105-2070
Rayong 356/18 Sukhumvit Road, Nuen-Phra Sub District, Muang District,
Rayong Province 21000
038-808200 038-807200
Khonkaen 26/9 Srijanmai Road, Tamboonnaimuang, Khon Khaen
40000
043-334-700 043-334-799
Chonburi 44 Vachiraprakarn Road, Bangplasoi, Muang Chonburi, Chonburi
20000
038-274-533 038-275-168
Chaseongsao 233-233/2 Moo2 1st Flr., Sukprayoon Road, Na Meung Sub-
District, Meung District, Chachoengsao 24000
038-981-587 038-981-591