Daily Strategy: ASL Recommends Oil-backed Stocks, Better Outlook for Banks 3Q Results

ASL Securities' Suchet Suktae recommended TASCO, TOP, PTTGC, expecting better outlook in 3Q for the banking sector.

Stocks in Asia traded in a mixed session on Tuesday despite a rise in the Hong Kong property sector that pushed the Hang Seng Index higher by 1.6%.


On September 28, 2021, Thailand’s SET Index opened at 1,625.06 points, increased 5.04 points or 0.31%.

As of 10:10 local time in Thailand, Nikkei dropped 0.33%, Shanghai Composite rose 0.37%, Hang Seng Index increased 1.66%, Australia ASX200 fell 0.91%, while Indonesia IDX Composite gained 0.03%.


Mr. Suchet Suktae, Deputy Managing Director, Media Marketing Department of ASL Securities Co.,Ltd., through “Kaohoon Jor Talad Program” on September 28, 2021, stated that the property sector in Hang Seng Index is signalling for a gain, indicating that the tension on China Evergrande has been relaxed to a certain level.

As for the decline in shipping stocks that moved irrelevant to BDI, the analyst stated that the trading was in a way of switching plays to other segments as the fundamentals for these shipping stocks remain strong.

Following the rise in banking sector, Mr. Suktae expected 3Q21 results to perform better than 3Q20, while shifting into a tech-driven company is still in the future. The analyst added that the decline in leasing stocks is at an attractive value to look for accumulation.

In addition, Mr. Suktae commented that the SET Index should not drop below the support level at 1,600-1,590 points, while the resistance level is at 1,640-1,650 points, giving three attractive stocks; TASCO (S8.00/R8.70-9.20), TOP (S51/R54-55) and PTTGC (R64).

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