Kaohoon Morning Brief – 29 November 2023

Krungsri Securities (KSS) expected Thailand’s SET Index to test the resistance level 1,410-1,415 points in response to the speculation of the Fed ending the rate-hike cycle as bond yields and dollars declined, resulting in fund inflow to the market for two straight days. Moreover, oil prices also rebounded over the report of OPEC+ expecting to further cut oil production as well as the Thai cabinet proposing measures to handle loan shark and government official’s wages.


Charlie Munger, Warren Buffett’s Partner, dies at 99. Munger, who is said to be an investing genius, a lawyer, philanthropist and an architect, was already rich before he became a vice chairman of Warren Buffett’s Berkshire Hathaway. Under Munger and Buffett management, Berkshire averaged an annual gain of 20.1% from 1965 through 2021, which was almost twice the pace of the S&P 500 Index.


Goldman Sachs expected the South Korea market to yield the highest earnings growth next year as the undervalued Kospi this year will become more attractive next year.

The investment bank expected Kospi earnings growth to rise 54% in 2024 and 20% in 2025. Goldman noted that the recent ban on short-selling is also a potential catalyst for the rise next year.