The Thai market remains dull on Wednesday, in line with regional markets, as it is in a wait-and-watch mode on the Fed’s meeting result on December 16.
As of 16.00 hrs. local time in Thailand, SET Index fell 6.03 points or 0.37% to 1,624.61 points with a total trading value of THB50,365 million.
Maybank Securities (Thailand) (MST) stated that the market is currently focused on stocks with specific attractive factors, with stocks such as JTS, OR, and GULF outperforming the market, whereas equities that gained sharply yesterday were sold for profit-taking.
As the market is under pressure due to the Fed’s monetary policy uncertainty, MST, therefore, recommends Selective Stocks with unique positive factors, such as BGRIM, which is expected to benefit from economic recovery and the recent acquisition of South Korean power plant projects. The aforementioned projects are expected to generate full revenue in 2023.
MST recommends a “BUY” rating on BGRIM, citing a limited downside after the share price has dropped considerably.