Pi Securities Says US Bond Yields Have Peaked, Recommends Accumulating MTC, SAWAD, TIDLOR

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2▲3 ▼0Impact / 5
Summary · why it matters

Pi Securities Public Company Limited said investment sentiment in global stock markets is beginning to ease after the US Federal Reserve raised interest rates by 0.25% as the market expected, while signalling it may hike once more this year. As a result, yields on 10-year and 30-year US government bonds declined, and the brokerage views them as likely to have passed their peak. Meanwhile, Brent crude oil prices fell to trade around 104-105 dollars per barrel after concerns over the Middle East situation eased somewhat. In the US stock market, the Dow Jones index closed up 0.61% and the S&P 500 rose 1.14%, led by technology stocks NVIDIA up 2.5%, Micron Technology up 5.5%, and Amazon up 2.2%. For the Thai stock market, Pi Securities estimates today's index range at 1,570-1,595 points, supported psychologically by the South Korean stock market, which rose about 2.5% in the morning, and by Thai technology stocks such as DELTA and KCE. On investment strategy, it views the non-bank group as increasingly attractive for accumulation now that bond yields are likely to gradually decline, and therefore picks MTC, SAWAD, and TIDLOR. Stocks that benefit from slowing oil prices include AOT, MINT, CENTEL, AWC, CPALL, CPN, and HMPRO, as well as hospital stocks BDMS, BCH, and PR9.

Impact on assets 21

Financials▲ · 3 stocks
Muangthai Capital Public Company Limited
MTC
▲ PositiveMonetaryrelevance

Pi Securities picks MTC for accumulation as US bond yields are seen to have peaked and likely to decline, easing funding costs for non-bank lenders.

Srisawad Power 1979 PCL
SAWAD
▲ PositiveMonetaryrelevance

SAWAD is recommended for accumulation on the view that falling US bond yields make the non-bank group more attractive.

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