Kaohoon Morning Brief – 9 June 2023

1) FSS expected more short-term inflow to Thai stock market

Finansia Syrus Securities (FSS) expected Thailand’s SET Index to move in a sideways to sideways-up trend after being able to break the resistance level of 1,545 points yesterday as the technical momentum turned more positive. The analyst expected the Thai stock market to benefit from short-term fund flow to the market. However, the energy sector could cool down after gains in oil prices started to slow down.


2) Trump has been indicted for violation of Espionage Act

The former U.S. president Donald Trump announced Thursday night in a post on his Truth Social platform that prosecutors had notified his attorneys that he had been indicted in connection with his mishandling of more than 100 classified documents that were discovered last year at Mar-a-Lago.

Thai made him the first former president to face federal criminal charges. He has currently been indicted with seven criminal charges.


3) Inflation in China remains at low level

Inflation in China remained at a lower level in May as the economy still is struggling to recover after a short-lived surge coming out of its strict zero-Covid policy late last year.

China’s Consumer Price Index in May rose 0.2% from a year ago where economists from Reuters poll expected a 0.3% rise. The price in May was slightly higher than a 0.1% rise in April, which was a two-year low.

Month-on-month, prices fell 0.2%, compared to an estimate of a 0.1% drop by economists.