Krungsri Securities (KSS) expected Thailand’s SET Index to move within the range of 1,405-1,430 points. The analyst viewed that the decline in oil prices due to concern of slowing down in China could pressure the Thai stock market to fluctuate even with a positive catalyst from weaker bond yield in speculation that the Federal Reserve will end its rate-hike cycle. Meanwhile, US jobless claims also rose to the highest level in three months. CPI and PPI data also showing down as well.
Alibaba 3Q23 earnings showed higher-than-expected EPS at $2.14 vs $2.09 expected. However, revenue that rose 9% YoY to $30.8 billion was lower than $31.04 billion expected.
Revenue +9% YoY to $30.8B, below $31.04B expected.
The company recorded $6.2 billion of free cash flow, up 27% YoY.
Alibaba stocks dropped 9% in the morning session on November 17, 2023, after the e-Commerce giant announced that it was scrapping plans to spin out its cloud computing division.
Cleveland Federal Reserve President Loretta Mester told CNBC that data this week showed that a lower level of inflation is not enough to convince her that the central bank has won the battle against higher prices, saying that the Fed needs to see more than that.