Kaohoon Morning Brief – 30 April 2024

Krungsri Securities (KSS) expected Thailand’s SET Index to move within the range of 1,350-1,370 points. The analyst stated that even with an easing tension in the Middle East, the negative sentiment from the Finance Ministry slashing Thai GDP growth this year from 2.8% to 2.4%, a declining crude oil price and a derisk prior to the Fed’s meeting could pressure the Thai stock market.


The International Monetary Fund (IMF) has increased its growth projection for Asia in 2024, citing optimism about India’s growth trajectory and calling for more stimulus from China. The IMF now anticipates a 4.5% growth for Asia’s economy this year, up by 0.3 percentage points compared to six months ago, with a consistent forecast of 4.3% for 2025.

The IMF noted that the region’s economic outlook has improved due to easing inflation pressures and projected policy stimulus in China contributing to the revision. India was highlighted as the fastest-growing major economy globally, with public investment playing a crucial role in its growth momentum.


Samsung Electronics Co. exceeded analysts’ earnings forecasts as its semiconductor unit returned to profitability while companies such as Microsoft Corp. and Alphabet Inc. drove an uptick in spending on artificial intelligence (AI) services.

The world’s leading memory chipmaker recorded a net income of 6.62 trillion won ($4.8 billion) in the March quarter, surpassing the average analyst estimate of 5.63 trillion won, marking a significant increase from the previous year’s earnings.