The Latest Breaking News from ASPS

Thailand's economic growth is expected to accelerate in the final nine months of this year, even as the global economy teeters near a recession, thanks partly to a lift following the May 14 election, analysts say.

Sentiment surrounding the Stock Exchange of Thailand (SET) was downbeat on Monday, despite Sunday's landslide election win, as investors dumped shares related to politics and big-cap stocks that might be adversely affected by the policies of the Move Forward Party, analysts say.

Trinity Securities cautioned investors to be wary of selling pressure in May, especially during the week after the general election, as the market may fluctuate ahead of the meeting of the Bank of Thailand's Monetary Policy Committee (MPC) at the end of the month.

Asia Plus Securities (ASPS) says investors should consider 20 stocks that are expected to benefit from a Chinese economic recovery after the country's first-quarter GDP grew by 4.5%, the highest in a year.

The analysis department of Asia Plus Securities (ASPS) expects the eight commercial banks it covers to report a combined net profit of 54 billion baht in the first quarter of 2023, up 34% from three months earlier thanks to net interest income (NII) growth and reduced operating costs.

RECAP: Asian shares came under pressure yesterday after lingering banking stability concerns gripped Wall Street, while bond markets bet that recent rate hikes by central banks will be among the last of the cycle, allowing for policy relief later in the year.

China's reopening, continued inflows of foreign funds, and anticipated spending for Thailand's national election scheduled for early May should put the Thai stock market in the spotlight in the first half this year, according to analysts.

Global interest rates are projected to reach a ceiling later this month as inflation fears have eased and several central banks are starting to worry about the impact of aggressive monetary policies on the global economy, says Tisco Securities.

The slowing of the Chinese and European economies is expected to continue driving foreign funds to flow into Thailand, where an economic recovery is projected, says Asia Plus Securities (ASPS).

Market analysts believe all telecom operators should benefit from a merger of True Corporation and Total Access Communication (DTAC), although the looming lawsuit against the National Broadcasting and Telecommunications Commission's (NBTC) decision to endorse the deal could delay its completion, which is expected in January next year.

Retail, tourism and construction stocks are likely to benefit from cabinet approval this week of 17 billion baht in spending to stimulate the economy, says Asia Plus Securities (ASPS).