SCBS 23/6/2565 : Strategy Prefer GPSC ( Ft hike benefit)and CBG (Buy tp Bt 118, positive on aluminum price qtd -26% and Earnings /gm to turnaround).

: Commodities Oil down to rotate to defensive Power Bank Healthcare

: GS neutral Equities in 3 mth view, Inflation and Oil to peak in 3Q’65.

: Historical track record, Consumer dis./staple to be negative correlation to Inflation.

: Earnings positive q/y play Prefer Bank Tourism Insurance Energy BBL KBANK AOT BLA IVL