Kaohoon Morning Brief – 11 September 2023

1) KSS expects uncertainty from the Fed’s decision would continue to pressure the market

Krungsri Securities (KSS) expected Thailand’s SET Index to move within the range of 1,540-1,560 points, stating that uncertainties from the Fed’s rate decisions and a derisk prior to the U.S. inflation data could pressure fund flows and sentiment in the stock market even though oil prices that maintained at a high level would benefit the energy stocks along with anticipation on the government’s stimulus measures.


2) BOJ will consider lifting negative interest policy if wages and prices rise

The Bank of Japan Governor Kazuo Ueda said the central bank will consider lifting its negative interest rate policy if wages and prices rise.

The governor said that there are various options, which includes lifting the negative interest rate policy once it is confident that Japan has achieved sustainable price increases and rising wages.


3) Morgan Staley raises Tesla’s target price by 60% to $400 with Dojo driving the value

Morgan Stanley raised Tesla’s target price by 60% to $400 from $250 with an upgrade rating to Overweight from Equal-Weight. Tesla has now become Morgan Stanley’s top pick.

Morgan Stanley stated that it believes Dojo, a supercomputer designed and built by Tesla for computer vision video processing and recognition, can add up to $500 billion to Tesla’s value, expressed through a faster adoption rate in Mobility (robotaxi) and Network Services (SaaS).