Kaohoon Morning Brief – 17 January 2024

Krungsri Securities (KSS) expected Thailand’s SET Index to move on a weaker trend at 1,390-1,395 range, following an uncertainty on the Fed’s rate cut after the probability for a cut in March from the FedWatch Tool dropped to around 65%. Meanwhile, the US bond yield also rose to 4% along with strengthening dollars, which are a negative sentiment for fund flows and investment.

The analyst recommended Selective Buy on stocks with specific catalysts.


China’s economy expanded 5.2% in the fourth quarter from the same period last year, according to the official data from the National Bureau of Statistics on Wednesday.

Growth in the final quarter of last year was slightly lower than expectations from economists polled by Reuters at 5.3%, but still growing at a faster pace than a 4.9% expansion in the third quarter.

Notably, growth for the full-year of 2023 was at 5.2%, making it higher than the annual growth target from Beijing at 5% after missing it a year prior. Growth also matched analysts expectations as well.


Thailand’s leading canned seafood producer Thai Union Group Public Company Limited (SET: TU) announced yesterday that it was looking to exit its investment from Red Lobster after years of losses. The move will come with 18 billion baht of impairment in 4Q23 financial results.

Despite that, analysts were quite positive on the move, seeing it as a one-time loss. The company will be able to book higher profit moving forward without the burden from the Red Lobster.