Kaohoon Morning Brief – 18 December 2023

Finansia Syrus Securities (FSS) expected Thailand’s SET Index to move in a sideways to sideways-up trend, slowing down from the two winning streak last week when the market rallied in response to the Fed signalling for rate cuts next year.

The analyst expected the SET Index to move within the range of 1,385-1,400 points, while recommending investors to monitor the SET50 and SET100 addition and deletion. The analyst pointed out that the market could be under short-term pressure if DELTA were to be removed from the SET50/100.


Economists expected the Bank of Japan to end its negative interest rates in April next year, which would make Japan one of the few central banks in the world to tighten monetary policy when other major central banks are gradually shifting toward a dovish move.

Shigeto Nagai, head of Japan economics at Oxford Economics and a former BOJ official also set his expectation for next April.


30-year mortgage rates closed below 7% for the first time since August and are now down over 100 basis points in the last two months. Borrowing costs in the US have eased for seven straight weeks as the Fed signalled for rate cuts.

Housing market supply will quickly recover if rates continue to fall at this current pace.