Kaohoon Morning Brief – 14 November 2023

Krungsri Securities (KSS) expected Thailand’s SET Index to move within the range of 1,380-1,400 points, supported by a positive sentiment from rising oil prices following the revision of OPEC, expecting higher demand for oil this year.

The market will also keep an eye on the meeting between the Federation of Thai Capital Market Organizations and the Finance Ministry to discuss an establishment of an investment fund to support the market.

However, the analyst cautioned investors to watch out for a selloff from foreign investors due to an uncertainty of Fed’s policy rates direction, resulting in a fluctuation in the market. The US will announce its Oct. CPI data later today.


UBS wrote in an analysis, expecting that the Federal Reserve will cut interest rates by 275 basis points next year, which is nearly four times more than what markets are pricing.

The Swiss investment bank expected the benchmark federal funds rate to fall to between 2.5% and 2.75% by the end of 2024, and see the terminal rate at 1.25% by early 2025.


Debenture holders of JKN Global Group Public Company Limited (SET: JKN) may not be able to book their returns at the maturity date as the company might enter into a rehabilitation.

JKN stated last night that the Central Bankruptcy Court has subsequently issued an order to accept the petition for business rehabilitation of the company on November 9, 2023. The Central Bankruptcy Court has scheduled a hearing to consider the business rehabilitation request on January 29, 2024.

As a result, all debts of the company have been placed under an automatic stay condition in accordance with Section 90/12 of the Bankruptcy Act, which includes a suspension of principal and interest payments on all series of debentures issued by the company, unless the Central Bankruptcy Court orders otherwise.