SCBS 11 April :

XD PSL Bt 0.25 / Share listing : JMART 18,771,132 shs/JMT 64,990,694 shs./XPG 218,938,297 shs.

: 1Q'65 Energy +q/+y BCP TOP PTT GULF IVL / +AP record high in E'65 Outperform tp Bt 11.40/Downgrade -SCC to Neutral tp Bt 420(from Bt 460) and Cut target price -SCGP to Bt 65 from 72

: GS Asset sensitive financials and secure dividend yield outperformed. In April, India Commodities led but Taiwan Tech. lagged.

: GS Asia Pacific Weekly Kickstart : MXAPJ declined 1% dragged down by North Asia Taiwan -USD 2.6 bn / Korea -2% USD -1.4 bn vs India +1.5%, Asian Fx weakened slightly against US

SCBS 8/4/2565 : สรุปคาดการณ์ผลการดำเนินงานไตรมาส 1 ปี 65 /XD BANPU Bt 0.25/Share listing SABUY 22,898,491 shs/PPPM 8,875,739 shs.***Monday 11 Apri. XD PSL Bt 0.25

: Mkt talk on JTS to be DELTA#2 to push SET Index with M&A Theme / Negative newsflow on CG : TU EA vs Prefer GFPT GULF

: Underperform SPRC tp Bt 9.40/TU Neutral vs Prefer GFPT / LH outperform tp Bt 10.50

JTS +238 บาท จากปลายปี 2021 คิดเป็น impact to SET 14.28 จุด

GS downgrades SCC to Sell (from Buy), TP lower to Bt330 (from Bt460) and Neutral PTTGC cut target price to Bt 55 from Bt 60*** SCBS 7/4/2565 : IPO JDF Bt 2.60/150 mil.shs to trade in SET/ F&B today/ XD SCC Bt 10/Events Tourism Group meeting at 11.00/TU CEO meeting at 12.30/SCBS cut TU tp to Bt 22 from Bt 24, weak margin/core profit vs Prefer GFPT CPF

: Friday 8/4/2565 : XD BANPU Bt 0.25/ BPP Bt 0.35*** SCBS cautious view on Petrochem, Prefer IVL outperform to Neutral PTTGC GGC.

: Oil down and Flows to trade in SET Index range 1660-1700 level. 1Q’65 Earnings preview Prefer Bank Commerce Power : BBL KBANK BJC CRC GULF

: Property sector : Underperform LPN TP of Bt3.10/sh (based on PER of 10.7X)/ SIRI Neutral with a 2022 TP of Bt1.42/share

SCBS 5/4/2565 : Insurance sector (Group meeting;) today at 14.00 ***XD today SCGP Bt 0.40/DCC Bt 0.045/ORI-W3 26 mil.shs listing/ Thurs.7/4/65 BANPU Bt 0.25/BPP Bt 0.35/Prefer PTTEP AH GULF/CPF cut target price to Bt 30 vs Neutral TU vs Prefer GFPT

SCBS 4/4/2565 : Today TRUE DTAC meeting / SCB AGM /Banking sector 1Q'65 Earnings Preview Prefer BBL KBANK/GS upgraded GRM/ TOP to Neutral tp Bt 57/ Flows Prefer Financial Fx THB

: Investment theme : M&A Prefer KBANK+JMT+New Partner/ GULF ADVANC+Binance***Export THB Prefer GFPT CPF /DELTA KCE***Reopen Prefer AOT ERW AWC***Inflation Prefer Bank Power BBL KBANK GULF GPSC BGRIM / Soft Commodity Prefer GPFT CPF NER

: XD 5/4/2565 DCC Bt 0.045/SCGP Bt 0.40***7/4/2565 SCC Bt 10***8/4/2565 BANPU Bt 0.25/BPP Bt 0.35

SCBS 2Q22 Market SCBS 1/4/2565 :Strategy (Group meeting; 1 April 2565 at 11.00-12.00 /TRUE+DTAC meeting on 4 Apr. /Flow Buy Bank Power vs Sell Oil Healthcare /S&P 500 year-end target of 4700 implies only 2% upside; and 6%/14% upside for EU/Asia next 12m)

April 1 starts Ramadon period – Healthcare / Motor Show Prefer AH TISCO+GMW KKP+MG/ Energy Pool Theme Prefer Power GULF / ESG Solar mkt trading GUNKUL BGRIM/ EV Prefer EA

ตลท.เตรียมนำหุ้น SCBX เข้าคำนวณใน SET50, SET100 แทน SCB*** GS lowered our 2H22 Brent price forecast from $135 to $125/bbl and to raise our 2023 Brent forecast from $110 to $115/bbl

SCBS 31/3/2565: BOT cut 2565 Thai GDP to 3.2% from 3.4% , Policy Rate on Hold /4.9% Headline Inflation in 2022 with risk higher than 5% in 2Q-3Q’2565/ Oil assumption $ 100 from $ 68.3/5.6mn tourist arrivals

: Sector rotation from Energy to Power from Foreign Fund Flows to ESG/ Renew. and Solar / Energy Pool Play +Power /-Oil Refinery

: Strategy Prefer CPALL BJC AH LH / Short covering Bank Power

: GS expected the BoT to begin tightening policy by hiking policy rates in Q4 2022 (+25bp).

: Market talks on M&A : KBANK & JMT/ GULF +ADVANC +Binance/JMART+SINGER and Share Buyback vs Flows Buy Bank Power vs Sell Energy Refinery Healthcare

SCBS 30/3/2565 : คลังเลื่อนเก็บภาษีหุ้น/ เตรียมออกมาตราการกระตุ้นเศรษฐกิจ/ TFEX Rollover/ กนง คาดคงดบ/ Motor Show Prefer AH TISCO KKP/Window Dressing Prefer CPN ADVANC INTUCH DELTA / Ramadon and 2Q Seasonal low for Healthcare

SCB EIC cut 2565 Thai GDP to 2.7%/ Tourist arrivals to 5.7 mil./Fx THB weak 1H/stronger 2H at range 33.50-32.50/ Brent Oil $ 110

SCBS 30/3/2565 : คลังเลื่อนเก็บภาษีหุ้น/ เตรียมออกมาตราการกระตุ้นเศรษฐกิจ/ TFEX Rollover/ กนง คาดคงดบ/ Motor Show Prefer AH TISCO KKP/Window Dressing Prefer CPN ADVANC INTUCH DELTA / Ramadon and 2Q Seasonal low for Healthcare

SCB EIC cut 2565 Thai GDP to 2.7%/ Tourist arrivals to 5.7 mil./Fx THB weak 1H/stronger 2H at range 33.50-32.50/ Brent Oil $ 110

SCBS Mar 28, 2022 : BJC Meeting 10.30 Zoom/Oil and Inflation Play Prefer Agri Hotel Property/ Election Play in 4Q'22 Prefer Food Media Contractor Commerce/ Motor Show Prefer AH TISCO KKP/ Window Dressing CPN ADVANC*** GS imply that a 10% increase in an economy’s commodity export price index results in a 5% appreciation of the currency, while a 10% increase in an economy’s commodity import price index results in a 2% depreciation of the currency