Tech rebound supports Asian equities

RECAP: Asian equities rose on Friday, with technology stocks in the region rebounding from a selloff that had been prompted by concerns over the revenue outlook for Nvidia Corp.
Thai shares little changed from a week earlier, as investors fretted about Donald Trump’s tariff policies and awaited news of more domestic economic stimulus.
The SET Index moved in a range of 1,435.78 and 1,471.48 points this week before closing on Friday at 1,446.30, up 0.3% from the previous week, with daily turnover averaging 42.93 billion baht. Brokers were net buyers of 2.39 billion baht, followed by foreign investors at 1.02 billion baht. Retail investors were net sellers of 2.9 billion baht and institutions 511.16 million.
NEWSMAKERS: Gold had its best week in a year, gaining 5% on safe-haven demand amid escalation in the Russia-Ukraine war. Spot gold hit $2,687 an ounce after reports that Russia had launched an intercontinental ballistic missile on Ukraine.
COMING UP: On Monday, South Korea announces consumer confidence and Singapore announces October inflation. Tuesday brings US consumer confidence and new home sales, and a Reserve Bank of New Zealand rate decision. On Wednesday, the US will report revised third-quarter GDP and updated personal consumption expenditure. On Thursday Germany and Japan will report inflation, and Japan will update industrial production.
STOCKS TO WATCH: InnovestX Securities recommends stocks expected to benefit from new stimulus, the second phase of the 10,000-baht handout, Easy e-Receipt and other factors. They include Commerce plays CPALL, CPAXT, CRC, HMPRO and TNP. Beneficiaries of a strong dollar and a weak baht are CPF and DELTA, and tourism plays AWC, AOT and MINT. Stocks expected to outperform and report strong Q4 earnings include GULF, OSP, CBG, AMATA, AU and TIDLOR. Finally, look for stocks with high dividend yields and expected to be targets of the Vayupak Fund and tax-deductible funds, notably BBL, ADVANC and HMPRO.
TECHNICAL VIEW: Trinity Securities sees support at 1,420 points and resistance at 1,470. Asia Plus Securities sees support at 1,435 and resistance at 1,467.