Market Roundup 21 January 2022

1) Thai stock market overview

Thailand’s SET Index closed at 1,652.73 points, decreased 4.23 points or 0.26% with a trading value of 81.4 billion baht. The analyst stated that the rebound in U.S. bond yields and concerns over Fed’s QE tightening still pressured the market. While investors were selling the fact on the Thai banking stocks after the earnings announcement.

The analyst expected SET Index to rebound and move sideways next week with a support level at 1,635-1,640 points and a resistance level at 1,660-1,665 points.


2) Thai exports beat expectation in 2021, with 24.2% growth in December

Thailand’s exports increased 24.2 percent to US$24,930 million in December, with full-2021 growth above expectations at 17.1 percent to US$271 billion, the Commerce Ministry reported on Friday.

The Commerce Minister said that the recovery of Thailand’s trading partners’ economies, the expansion of the global manufacturing sector, the depreciation of Thai baht at a level favorable to exports, and the rise in crude oil prices were all factors that contributed to Thailand’s export growth last year.

Exports are projected to rise by 3-4 percent in 2022, as strong global demand is expected to continue. However, the spread of the omicron coronavirus strain, rising inflation in other countries, and supply chain disruption continue to pose threats.


3) Japan PM says decision makers for policy rate rests on BOJ

Prime Minister of Japan Fumio Kishida on Friday said that it was up to the central bank of Japan to decide on the exit strategy of the massive stimulus program, when he was asked about soaring inflation.


4) NUSA plunges 5% after announcing an acquisition in WEH

The share price of Nusasiri Public Company Limited (SET: NUSA) fell 4.94% to Bt1.54 after the company announced its intention to acquire 8.04% shareholding stake of Wind Energy Holding Company Limited (WEH) at a total amount not exceeding THB 3,545,775,000.

WEH is notorious for having several lawsuits going on with its directors and the company itself. One of the cases that are under the market’s monitor is that the former director has signed a compensation bill worth more than 2,000 million euros to another former director, and there is no indication whether WEH has overcome this burden.