Asia Stocks Trade in High Spirit after Dow Hits an All-Time High at 26,966!!

Asia stocks trade higher in the morning session of July 4, 2019, after Dow Jones gained 179.32 points or 0.67% to hit an all-time high and close at 26,966.00 points amid the expectation of a rate cut this month by Fed to buoy the economy. Meanwhile, S&P 500 also rose 0.7% to 2,995.82 points, and Nasdaq gained 0.75% to 8,170.23 points.

As of 9:05 local time in Thailand, Nikkei rose 0.34%, SSEC gained 0.29%, HSI added 0.46%, ASX 200 edged higher by 0.68% and KOSPI upped 0.27%.

Yesterday, SET closed at THB1,738.51, rose 6.28 points or 0.36% with a trading value of THB 63,700 billion.

 

Krungsri Securities still has a neutral view on the movement of today’s SET Index, stating the index will move between 1,730-1,745 points, buoyed by the constant fund inflow from foreign investors while expecting the Fed to make a rate cut later this month.

Selective Buy Recommendation from Krungsri Securities
– Securities with high expectation of better 2Q19 statement: PTTEP, EA, BGRIM, GPSC, CKP ,CPF, GFPT, TFG, CPALL, MTC, THANI, VGI, PLANB, MINT, VNT, WORK, MAJOR.
– Freight: PSL, TTA (from the recent higher ocean freight charge)
– Industrial and contractor: AMATA, WHA ,STEC, SEAFCO, CK (from high-speed railway connecting three airports and Map Ta Phut Phase 3 Project)