Kaohoon Morning Brief – 31 October 2023

Krungsri Securities (KSS) expected Thailand’s SET Index to recover to the resistance level of 1,400-1,410 points, but also facing weakness during the session as well. The market should get a push from Wall Street’s last night that closed higher and also a speculation ahead of 3Q23 earnings results. However, the decline in oil prices and a slowdown of trading volume ahead of Fed’s meeting that is expected to maintain rates at 5.25-5.50% could pressure the market today as well.


The Japanese 10-year government bond yields opened near the Bank of Japan’s current 1% ceiling. Meanwhile, Nikkei reported that the central bank will consider letting yields rise beyond the current cap.

The Bank of Japan will meet today to consider its policy rates.


The market is beginning to price-in a potential rate cut at the Fed’s meeting today and tomorrow, but only at a 5% chance. Meanwhile, the base case still showed rate cuts beginning in June next year, according to CME FedWatch Tool.

However, odds of another hike in January 2024 are now up to around 36%.