Kaohoon Morning Brief – 26 October 2023

Finansia Syrus Securities (FSS) expected Thailand’s SET Index to drop to around 1,390 points, pressured by the rise of US 10-year bond yield that returned to 4.95%. The situation in the Middle East remained tense as Israel continued its ground assault, resulting in investors withdrawing from risk assets to dollars and gold. The market was also monitoring the ECB meeting that is expected to maintain interest rates at 4%.


Wall Street plunged on Wednesday after weak earnings results and slew fourth quarter guidance from the technology sector after the bell, causing a sharp selloff in tech stocks.

Even though Meta showed better performance than expected in the third quarter, its Reality Labs division recorded a loss of $3.7 billion. Meta shares dropped 4.1% on Wednesday and another 3.3% in an after-hour trading.

Align Technology fell 4.4% at the closing and 25% after hours.

The bearish sentiment on Wednesday came after Alphabet reported its earnings on Tuesday that showed revenue in its Google cloud unit was below expectations

Dow Jones closed 0.32% lower to 33,035.93 points, while S&P 500 fell 1.43% to 4,186.77 points and Nasdaq plunged 2.43% to 12,821.22 points.


Goldman Sachs has changed forecasts of some central banks rate policy in the Southeast Asia region. The investment bank now sees two more rate hikes in the Philippines for 25 basis points each and one more for Indonesia this year. Meanwhile, Goldman Sachs expected no more hikes for Thailand, Singapore and Myanmar.