We expect the SET Index to trade within a range of 1,430 to 1,500 points in November.

Key factor influencing the market include the US midterm elections on November 5th, the FOMC meeting on November 7th, and the anticipated announcement of China’s economic stimulus package between November 4th and 8th. A potential risk to the market is an escalation of the Israel-Lebanon conflict.

Investment strategy: Given the potential market volatility, we recommend taking profits on stocks that have experienced significant gains. Additionally, investors should closely monitor the upcoming 3Q24 earnings season.

Top Picks: BEM, CBG, KTB, MOSHI, SCGP, SSIB, and SJWD

 

Stocks Pick November 2024

BEM (BUY, Target Bt11.40) Record-breaking profits expected in 3Q24E driven by ridership growth

CBG (BUY, Target Bt88.00) 3Q24E earnings expected to hit 13-quarter high

KTB (BUY, Target Bt23.00) Superior asset quality, upside potential from lower provisions

MOSH (BUY, Target Bt58.00) Substantial recovery anticipated in 3Q24E despite low season

SCGP (BUY, Target Bt33.00) 3Q24 soft patch, 4Q24E recovery on the horizon

SISB (BUY, Target Bt40.00) Riding the wave of new academic year growth

SJWD (BUY, Target Bt14.50) Strong 3Q24E earnings recovery outlook led by freight, dangerous goods and cold storage