Daily Strategy: ASL Expects Energy Stocks to Take Lead, Freight Rate Extends Gain

Mr. Suchet Suktae expected oil prices to edge higher in 4Q as well as the freight rate amid higher demand on economic reopening.

Stocks in Asia traded lower after a plummet in Wall Street last night on Monday after a selloff in tech stocks amid a rise in U.S. Treasury yields, while the concern over debt default remained.


On October 5, 2021, Thailand’s SET Index opened at 1,614.96 points, increased 0.48 points or 0.03%.

As of 10:05 local time in Thailand, Nikkei plunged 2.77%, Hang Seng Index rose 0.07%, ASX 200 fell 0.72% and Indonesia IDX Composite slipped 0.41%.

Last night, Dow Jones fell 0.94%, S&P500 dropped 1.30% and Nasdaq plunged 2.14%.

The yield on the benchmark 10-year Treasury note rose near 1.49% yesterday. The yield reached 1.56% last week.


Mr. Suchet Suktae, Deputy Managing Director, Media Marketing Department of ASL Securities Co.,Ltd., through “Kaohoon Jor Talad Program” on October 5, 2021, stated that the energy sector would still lead the gain in 4Q21 as analysts expected crude oil prices to continue rising even with 400,000 bpd production increase by OPEC+.

Mr. Suktae expected a freight rate at the end of this year to rise, following an acceleration in BDI from 4,900 points last week to 5,267 as of now due to higher demand from economic reopening.

As for Treasury yield, Mr. Suktae stated that the current level was still lower than the previous week.

The analyst gave a support level at 1,610-1,600 points for SET Index and recommended five outstanding stocks from the research namely; THCOM (R11.70-12), PTG (R17.20-18 S16), ADVANC (R210-S190), TU (R22.50-23) and SYNEX (R24.80-25 S23.30).

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