Kaohoon Morning Brief – 20 December 2023

Asia Plus Securities (ASPS) expected Thailand’s SET Index to move in a sideways-up trend, boosted by the energy sector that benefited from a rise in oil prices due to attacks in the Red Sea that put more pressure on the situation.

The analyst also expected more inflow into saving funds this month for tax reduction. However, the analyst advised investors to be cautious on foreign investors selling shares that could fluctuate the market. Meanwhile, other regional markets are edging higher this morning.


The MSCI iShares ETF, which excluded China from the EM world constituent, has overtaken the China ETF in assets for the first time. This could be a sign that investors would want to maintain their investment in the emerging market if they can avoid China.


According to the data compiled by Bloomberg, US oil output has soared while drilling has declined. This is due to the US adding the equivalent of a new Venezuela in oil supply during the fourth quarter. The US is producing more oil with less rigs as technological efficiency ramps up.

This supply growth has exceeded market expectations and derailed OPEC’s attempt to maintain crude oil price at a higher level.


Shippers have re-routed about more than $30 billion worth of cargo from the Red Sea as the attack from Houthi militants in Yemen on vessels continues.

Denmark’s Maersk said that it will divert shipping route to the Cape of Good Hope around southern Africa as soon as possible.