Kaohoon Morning Brief – 2 January 2024

Krungsri Securities (KSS) expected Thailand’s SET Index to challenge the resistance level of 1,420-1,430 points before moving in a relatively weakening trend as the market anticipated the Fed and ECB to gradually cut interest rates, following lower pressure from inflation. The analyst expected buying pressure on stocks with unique catalysts to help support the market and the overall investment outlook. However, the decline in crude oil prices could also pressure the energy sector.


The official NBS Manufacturing PMI in China unexpectedly fell to 49.0 in December 2023 from 49.4 in November, which was lower than the market’s estimation of 49.5. Production for the world’s second largest economy moderated further in the final month of the year, while new orders stayed in contraction. This indicated that more policy support was likely required to revive its economy.


Stock market in Japan was closed on Tuesday following a powerful earthquake that struck central Japan with a magnitude of 7.6 on Monday. The Japan Meteorological Agency (JMA) initially issued a major tsunami warning, which was the first since the March 2011 earthquake and tsunami that killed more than 20,000 people.