Kaohoon Morning Brief – 13 December 2023

Krungsri Securities (KSS) expected Thailand’s SET Index to remain weak at around 1,365-1,370 points. The analyst expected the US Fed to maintain interest rate at 5.25-5.50% after the inflation data for November came in at 3.1% as expected. However, the decline in oil prices over concerns about weak demand would pressure energy stocks. The fund outflows continued to leave Thailand and would drag the SET Index down.


The U.S. consumer price came in at 3.1% year-on-year in November, in line with expectations from Economists surveyed by Dow Jones and also slowed down from 3.2% a month earlier.

Inflation was up 0.1% in November after being unchanged in October, according to the data published by the Labor Department’s Bureau of Labor Statistics on Tuesday.

Meanwhile, core inflation, which excluded food and energy prices, was also in line with expectations of 4.0% YoY and 0.3% MoM.


The volatility gauge VIX index just hit the lowest level since January 2020 after the latest US inflation data for November reported yesterday.

The Vix traded below the 12.00 level for the first time since the pandemic, but is now slightly above the 12.00.

The index rose as high as 26.52 in March this year during the US banking crisis.