Recap: World markets were generally upbeat last week but the SET was little changed, moving sideways in a range of 1,567.32 and 1,581.27 points, and closing at 1,579.20, up 0.2% from the previous week, in turnover averaging 46.68 billion baht a day. Foreign investors were net sellers of 492.46 million baht and retail investors sold 1.14 billion. Brokers were net buyers of 691.96 million baht and local institutions bought 951.07 million.
Big movers: The energy drink maker Carabao Group (CBG) rose 16% from its 28-baht IPO price on its debut on Friday, closing at 32.50 baht. J.S.P. Property (JSP) gained 28.5% to 3.34 baht on its first day on Wednesday.
RWI was the week's top loser, falling 26.6% to 8 baht while top gainer PAF rose 32.9% to 4.04 baht. NPARK led in volume, down 14.3% to 0.06 baht. Leading in turnover were ITD, up 17.3% to 7.45 baht; PTT, down 0.3% to 387 baht; and GEL, up 19% to 1.25 baht.
Newsmakers: The government budget for next fiscal year is expected to increase by 18% to help fund new social development programmes, the Finance Ministry says, adding new tax revenue should be adequate to support the increase.
The National Economic and Social Development Board said the economy grew by 0.6% in the third quarter, up from 0.4% in the second quarter. If forecast full-year growth of just 1%, down from a range of 1.5% to 2% forecast earlier.
Government revenue in October totalled 171 billion baht, 5.6% higher than the target.
Foreign tourist arrivals rose 6.1% year-on-year in October, the first increase this year, helped by a 67% spike in Chinese visits as a visa-free trial went into effect. For the first 10 months, arrivals are still down 8.7%.
Car production is likely to be around 2 million this year, down from 2.45 million last year, due to slower domestic demand.
SET-listed companies' net profits for the first nine months totalled 617.4 billion baht, up 0.23% year-on-year, on sales of 8.68 trillion baht, up 6.1%. Weak growth was attributed to huge losses from crude inventories in the energy sector which dominates listings.
The factory and warehouse developer WHA Corp plans to acquire Hemaraj Land & Development for 43.7 billion baht. It will buy 22.53% of Hemaraj at 4.50 baht per share from major shareholders, and offer to purchase the remaining shares at the same price.
Land & Houses Bank is in talks with lenders in Japan, China and Malaysia about a possible strategic partnership.
Singha Estate Plc, the real estate arm of brewer Singha Corp, plans to invest 100 billion baht over the next five years to develop hotels, houses, office and retail buildings.
PTTEP says it is reviewing its petroleum investment plan, which currently envisions production of 600,000 bpd by 2020, in light of the sharp recent decline in world crude prices to around $80 per barrel.
Coming up this week: US revised third-quarter GDP and consumer confidence figures will be released tomorrow.
The Philippines will release Q3 GDP figures on Thursday. US markets will be closed for Thanksgiving on Thursday. Taiwan and India will release Q3 GDP data on Friday.
Stocks to watch: Phillip Securities suggest accumulating large-cap stocks when the market is on a downward trend. Recommend are KBANK, KTB, ADVANC and CPALL.
Analysts at the SET in the City investment fair recommended low-PE stocks including CPN, DCON, HEMRAJ, HFT, JAS and L&E. They also have a top 10 list of companies with sustainable net profit margins. They are ALUCON, APCO, DCON, DELTA, GLOW, HEMRAJ, JAS, KCE, PRG and PS.
Analysts' top 10 MAI stocks are APCO, ARROW, BOL, EA, FPI, IRCP, JUBILIE, PTLON, QLT and TNDT. Their top 10 high-dividend stocks are ASP, CM, GC, KGI, LEE, MBKET, MCOT, PATO, SSSC and TCCC.
Technical view: Tisco Securities sees support at 1,560 and resistance at 1,590. Asia Plus Securities sees support at 1,570 and resistance at 1,595.