INVX Morning Call 22/10/2024: IPO TMAN ( ยาแก้ไอน้ำดำไอยรา ยาดมโพรโพลิส) Bt 16.30 listed in SET / Person

Banking sector : Negative impact from lower lending rate by 0.25% effective on Nov.1,2024 ( SCB, KBANK ) impact NIM by 7-10 bps and Earnings by 5%-10%.

**^Downgraded KTB to Neutral from Outperform with unchanged target price at Bt 22

***KBANK Neutral /raised target price to Bt 160 from Bt 145 as higher mark to market gain

***Today Analyst meeting 10.00 KKP/ 13.00 SNNP/ 15.00 WHA

***Program Trading Buy CCET

***Fund Flows Buy Gulf INTUCH ADVANC THCOM / BTS BEM/ CCET HANA KCE vs Sell Energy Oil , Commerce, Auto, Tourism

*** Key Factors :

5 Nov24 US Election with Trump poll Positive USD US Equity and Gold 3/6/12 m at 2750/2900/3040

6 Nov24 MSCI announcement : mkt talk to add MTC IVL to be effective on 26 Nov24

18 Dec24 BOT MPC expected to cut rate by 0.25% to impact positive ( save financing cost of listed companies ) on SET Index by 19 points