Today's reports


May find some solid ground at 1,355-1,365

Market outlook
The SET will continue to be pressured by spreading of COVID-19 outside China, which is still unchecked. The DJIA fell 4.4% on Thursday and DJIA-F is up slightly this morning. Regional stock markets have been opening in the red, so the SET is likely to drop this morning. Support is yesterday’s low at 1,355-1,365, where the market is expected to consolidate with attractive valuation. Upside is limited at 1,398-1,405.
Market strategy
Accumulate at 1,355-1,365 because of attractive valuation. We suggest a mixed portfolio of stocks with a good earnings outlook, defensive stocks and laggards: BCH, BEM, BTS, IVL, PTTEP. Today’s picks are TISCO and TTW which provide attractive dividend yield.
Company analysis
ACE – 2019: Great profit growth, as expected – Buy
BAM – 4Q19: Misses from delaying extra income – Neutral
BDMS – Conditional voluntary tender offer for BH – Buy
BH – 4Q19: Weak earnings – Neutral
BJC – 4Q19: Net profit beats on low tax rate – Neutral
DIF – 4Q19: In line – Buy
MINT – 4Q19: Beat on extra items and real estate sales – Buy
ROJNA – 4Q19: Growth beat; 2020 up more – Buy