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หลักทรัพย์ธนชาต ชี้เป้าหมายดัชนีหุ้นไทยสิ้นปี 68 อยู่ที่ 1,580 จุด แนะจัดพอร์ตลงทุนแบบเสี่ยงปานกลาง ( Moderate Risk Portfolio)

 

บมจ.หลักทรัพย์ธนชาต ชี้สิ้นปี 2568 นี้ มีโอกาสเห็นดัชนีตลาดหลักทรัพย์ไทยปิดตลาดที่ 1,580 จุด มองยังมีหลายอุตสาหกรรมที่ยังมีความสามารถทำกำไรได้ดี และมีแนวโน้มเติบโตได้ต่อเนื่อง ตามภาวะเศรษฐกิจไทยที่ค่อยๆ ฟื้นตัว  แนะนำให้จัดพอร์ตลงทุนแบบเสี่ยงปานกลาง ( Moderate Risk Portfolio)  พร้อมมองหุ้นที่คาดว่าจะให้ผลตอบแทนที่ดีกว่าตลาดประกอบด้วย SCB KTB MTC CPALL TRUE CKP ERW SPA MEGA และ DIF

จากเศรษฐกิจไทยที่ค่อยๆ ฟื้นตัว ในช่วงครึ่งหลังของปี 2567 หลังจากนโยบายเศรษฐกิจมีความชัดเจน และเสถียรภาพทางการเมืองนิ่งมากขึ้น แต่เนื่องด้วยความกังวลต่อภาวะเงินเฟ้อในสหรัฐฯ ที่อาจเร่งตัวขึ้นอีกครั้ง กรณีที่ประธานาธิบดีโดนัลด์ ทรัมป์ แห่งสหรัฐอเมริกา ใช้มาตรการภาษีนำเข้าที่แข็งกร้าวกับประเทศคู่ค้าหลัก โดยเฉพาะประเทศจีน ส่งผลให้กระแสเงินทุนไหลออกจากกลุ่มประเทศกำลังพัฒนา (Emerging Country) ไปที่กลุ่มประเทศพัฒนาแล้ว (Developed Country) และเป็นปัจจัยกดดันตลาดหุ้นไทย ในช่วงโค้งสุดท้ายของปี 2567 ทั้งๆ ที่มีแรงหนุนจากเม็ดเงินใหม่ผ่านกองทุนวายุภักษ์ และกองทุนประหยัดภาษี TESG ก็ตาม

นายอดิศักดิ์ ผู้พิพัฒน์หิรัญกุล Head of Retail Strategy และ Investment Strategist บริษัทหลักทรัพย์ ธนชาต จำกัด (มหาชน) เปิดเผยถึงปัญหาของตลาดหุ้นไทยที่ไม่สามารถสร้างผลตอบแทนได้ดีนัก ในช่วง 2-3 ปีที่ผ่านมา เป็นผลจากเศรษฐกิจที่ฟื้นตัวช้า และโครงสร้างตลาดหุ้นไทย ที่ถูกกดดันจากหลายอุตสาหกรรมที่มีการเปลี่ยนแปลงเชิงโครงสร้างในช่วงหลัง Covid ไม่ว่าจะเป็นกลุ่มพลังงาน ปิโตรเคมี ชิ้นส่วนยานยนต์ กลุ่มโรงไฟฟ้า และกลุ่มสื่อโฆษณาเป็นต้น อย่างไรก็ดี เรามองว่ายังมีหลายอุตสาหกรรม ที่ยังมีความสามารถทำกำไรได้ดี และมีแนวโน้มเติบโตได้ต่อเนื่อง ตามภาวะเศรษฐกิจไทยที่ค่อยๆ ฟื้นตัว ทำให้กลยุทธ์การลงทุนในช่วงหลายปีนี้ อยู่ในภาวะที่ “ต้องเลือก” ลงทุน โดยให้เป้าหมาย SET สิ้นปี 2568 ที่ 1,580 จุด

ทั้งนี้ในปี 2568  บล.ธนชาต แนะนำให้จัดพอร์ตลงทุนแบบ Moderate Risk Portfolio โดยให้น้ำหนักการลงทุนประกอบด้วย

1.ตราสารหนี้ระยะสั้นเพื่อรักษาสภาพคล่อง 15% ของพอร์ต

2.ตราสารหนี้คุณภาพสูงในสหรัฐฯ 30% ของพอร์ต ที่นอกจากจะให้ผลตอบแทนจากการถือสูง ยังมีโอกาสได้ส่วนต่างราคาในกรณีที่ Fed กลับมาลดดอกเบี้ยอีกครั้ง

3. ตลาดหุ้นต่างประเทศ 20% ของพอร์ต โดยเน้นไปที่ตลาดหุ้นสหรัฐฯ จีน และเวียดนาม

4.ตลาดหุ้นไทย 20% ของพอร์ต ซึ่งจำเป็นต้อง “เลือก” ซื้อในกลุ่มอุตสาหกรรมที่ยังมีความสามารถในการทำกำไรที่ดี

5.สินทรัพย์ทางเลือก อย่างทองคำ และกองทุนโครงสรางพื้นฐาน 15% ของพอร์ต

สำหรับกลุ่มหุ้นที่คาดว่าจะให้ผลตอบแทนที่ดีกว่าตลาด จะเป็นกลุ่มหุ้นที่มีความสามารถในการทำกำไรสูง สร้างกระแสเงินสดได้ดี สามารถจ่ายเงินปันผลได้สม่ำเสมอ และได้ผลดีจากแนวโน้มดอกเบี้ยขาลง “ชอบ” SCB KTB MTC CPALL TRUE CKP ERW SPA MEGA และ DIF

03 กุมภาพันธ์ 2568

ผู้ชม 28 ครั้ง

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