Kaohoon Morning Brief – 21 June 2024

Liberator Securities (LIB) expected Thailand’s SET Index to fluctuate this morning, following jobless claims in the US that was higher than expected, while housing starts were down 5.50% MoM to 1.277 million units in May, lower than 1.38 million units estimated. This led to a belief that the U.S. economy is slowing down and ultimately to a Fed’s rate cut.

Moreover, there will be a FTSE Rebalance at the closing of today’s session that should raise trading volume of SET Index today.


Japan’s core inflation rate, excluding fresh food prices, was reported at 2.5% in May, slightly lower than economists’ expectations of 2.6% as per a Reuters poll. Compared to April’s figure of 2.2%, the May reading fell short.

Additionally, the “core-core” inflation, which excludes prices of both fresh food and energy, decreased to 2.1% in May from April’s 2.4%. This particular metric holds significance for the Bank of Japan in shaping the country’s monetary policies.

On the other hand, Japan’s headline inflation rate increased to 2.8% in May, surpassing April’s 2.5% figure.


The Bank of England maintained its key rate at 5.25%, a level it has retained since August 2023, marking a 16-year high. While seven members of the Monetary Policy Committee voted in favor of holding rates, two members were in favor of a 25 basis points cut, mirroring the situation at the May meeting.

The MPC acknowledged that inflation had met the central bank’s target and highlighted that measures of “short-term inflation expectations” and wage growth had softened.