Kaohoon Morning Brief – 21 November 2023

Krungsri Securities (KSS) expected Thailand’s SET Index to move within the 1,410 – 1,430 range, boosted by market sentiment in a speculation that the Federal Reserve and the Europe Central Bank will start cutting interest rates mid-2024. Meanwhile, oil prices also edged higher in speculation that the OPEC meeting on November 26 will announce another production cut. Still, a slowdown in foreign inflows continued to pressure the market and limited the SET Index upside. The analyst maintained positive on stocks with unique catalysts.


PTTGC has announced that the Board of Directors approve to sell the shares of GC Logistics Company Limited (GCL) to WHA Venture Holding Company Limited (WHAVH), a subsidiary of WHA Corporation Public Company Limited, in the proportion of 50% of the ordinary shares of GCL which is equivalent to THB 2,640 million.

The transaction is considered as a collaborative partnership to develop a business model that promotes and enhances competitiveness for both GCL and Polymer business. This includes improving efficiency, reducing operational expenses, and creating opportunities for growth in the logistics business and to become the Integrated Logistics Company with a comprehensive network.


Nvidia stocks closed at its all-time high on Monday, a day prior to its earnings report. The share price was up 2.28% to settle at $504.20 a piece. The market is expecting to see revenue growth of over 170% amid booming AI business that requires powerful processors and microchips.


After the banking crisis earlier this year, US bank stocks never recovered to the level it was prior to the incident. Currently, US bank stocks are at record lows relative to the S&P 500. According to Moodys, major banks in the United States of America are sitting on a pile of $650 billion in unrealized losses.