Kaohoon Morning Brief – 6 March 2024

Maybank Securities (Thailand) (MST) stated that the SET Index is forecast to fluctuate and consolidate within the range of 1350-1365 points today. The current environment lacks momentum following selling pressure on overall risky assets. Beginning with the US stock market, which saw a decrease of more than 1%, driven by the lower-than-expected ISM Service PMI figures for February at 52.6, compared to the market’s anticipated 53.00. Additionally, Mega tech stocks such as Apple experienced a 3% decline, with sales in China contracting by 24% YoY over the first 6 weeks.

MST recommended investors to focus on selective buy stocks with anticipated earnings recovery.


Bitcoin rose to a fresh all-time high in two years at $69,210 yesterday, according to Coin Metrics, but tumbled down afterward to slightly below $62,000 level this morning. The price of Bitcoin has risen 45% this year as it is approaching the Halving this April.


Stock Futures linked to the Nasdaq 100 bounced back on Tuesday night after a sharp decline on three major indexes in Wall Street from a sell-off.

The US stock markets edged lower on Tuesday as the Dow Jones Industrial Average (DJIA) fell by 1.04% to 38,585.19. NASDAQ plunged by 1.65% to 15,939.59, and S&P 500 contracted by 1.02% to 5,078.65. VIX jumped by 7.19% to 14.46.