1) Thai stock market overview
Thailand’s SET Index closed at 1,672.63 points, decreased 7.39 points or 0.44% with a trading value of 90.9 billion baht. The analyst stated that the Thai stock market moved in the same direction as regional markets as several Federal Reserve policymakers signaled that the central bank could begin raising interest rates in March.
The analyst expected SET Index to move in sideways direction next week, recommending investors to monitor the banking sector’s earnings, giving a support level at 1,660 points and a resistance level at 1,680 points.
2) TISCO reports 2021 earnings at THB6.7 billion, up 12%
TISCO’s net profit for the year 2021 was reported at THB6,781.47 million, increased by 717.99 million baht or 11.8% (YoY), primarily contributed by a growth in capital market businesses especially asset management business, the recognition of gain on investment and lower expected credit loss (ECL).
3) UOB wins the bidding for all Citigroup’s retail assets in SEA
Citibank Thailand published a press release early Friday, stating that Citi has reached a deal with UOB to sell its consumer-banking businesses in Thailand, Indonesia, Malaysia, and Vietnam. The acquisition will include Citi’s retail banking and credit card businesses excluding institutional business in all four countries.