Kaohoon Morning Brief – 21 February 2024

Krungsri Securities (KSS) expected Thailand’s SET Index to edge lower to the range of 1,375-1,370 points as the market was still concerned about a downward revision of Thai 2024 GDP from 2.7-3.7% to 2.2-3.2%, resulting in constant outflows. Weaker crude oil prices would pressure the energy sector, but a buying pressure in stocks with positive catalysts and high dividend stocks could help support the market to bounce back.


The first rate cut from the US Federal Reserve is currently expected to come in June, according to a slim majority of economists polled by Reuters.

The survey conducted by Reuters since September last year has consistently predicted the first rate cut by the Fed to be around mid-2024. The market jumped March for the earliest, but now looked past the date to June or even July following a rise in consumer prices in January.

The March rate cut has now been ruled out completely.


Vietnam is expected to see the sharpest spike in wealth growth over the next decade, according to New World Wealth’s analyst. Wealth is set to rise 125% as this would be the largest expansion in wealth of any country in terms of GDP per capita and number of millionaires.