Weekly Market update

Weekly Market update:

In commodity

Steel – Soaring raw material prices KTZ is bullish on future demands for rebar but what has kept us cautious is steel margin which we haven’t seen clear sign for bottoming out.

Steel – Soaring raw material prices KTZ is bullish on future demands for rebar but what has kept us cautious is steel margin which we haven’t seen clear sign for bottoming out.

Energy – $80 oil price again Last week, WTI and Dubai prices rose 2%-5% as speculators increased a bet. We expect WTI price to stay above $80 as market is optimistic on fuel demand to increase alongside the improved prospects for US economic recovery.

Chemical – All petrochemical prices increased Last week, all petrochemical prices increased in tandem with oil price movement.

Coal – The seventh consecutive week falls Last week, the BJI index further dipped $0.5 to $94.5/ton due to expected decrease in Chinese coal demand as a result of government policy on the pollution emission.

Today’s company update

TOP: 2Q10 earnings results

PTTAR: Weak earnings as expected!

DCC: 2Q10 analyst meeting – defensive with growth

BANPU: China coal production below target

DELTA: 2Q10 net profit of Bt1.1bn beat our expectation

Property sector: Residential Market Survey by AREA

Technical Analysis

However, the index has thus far chosen the method of correcting within a day by moving up and down in a limited frame. Although the index has continued to advance, it has not been enough to eliminate or reduce the overbought condition.

Let Punch! - Speculate buy (PSL, UMI), Buy at the support (AH)