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1) The Fed cut policy interest rate by 0.25% as expected, but investors in the US market are still not satisfied as the Fed has not pledged to cut interest rate again in the future. However, we view it as an important positive factor as if the Fed continues to cut the interest rate further, it would be a sign of a heavy economic slowdown and result in a heavy fall of the stock market for a long period of time.

Acquisition may happen any timeThe merger of TMB and KTB could happen at any time depending on policymakers as the major shareholders of both banks are state enterprise entities. The Ministry of Finance (MoF) is currently the major shareholder of TMB with a 25.9% stake and ING is the second largest with a 25% stake. Meanwhile, KTB is controlled by FIDF (an entity under Bank of Thailand), which has a 55% stake.

1) The Fed cut policy interest rate by 0.25% as expected, but investors in the US market are still not satisfied as the Fed has not pledged to cut interest rate again in the future. However, we view it as an important positive factor as if the Fed continues to cut the interest rate further, it would be a sign of a heavy economic slowdown and result in a heavy fall of the stock market for a long period of time.

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