SCBS 26/11/2564 : Strategy focus on SET Index 1650. Research Zen outperform tp Bt 14.50/GVREIT neutral /GLOBAL neutral tp Bt 25 (Depo Bangunan; CKDB (≤Bt10mn/year ) AOT Neutral tp Bt 67***Meeting BGRIM 8.00/13.30 RATCH/XD PSL Bt 0.50, XR MACO 2:1@Bt 0.30 GS now expects the Fed to announce in Dec to double the pace of tapering to $30bn per month starting in Jan, and ending in Mar.

This faster pace of tapering would allow the FOMC to consider a rate hike as early as March.

Base case, GS now expects 3 hikes in 2022 (in “June/ Sep/ Dec” or “May/ July/ Nov”), followed by 2 hikes per year starting in 2023.

BOK hiked rates by +25bp to 1.0% yesterday. GS expects BOK to hike again by +25bp in April, see a risk of earlier hike in 1Q22.

WHO meeting today for New Covid series —-HK negative impact found 2 new cases: China to focus more on Biotech and Pharma.