Market Roundup 26 January 2022

1) Thai stock market overview

Thailand’s SET Index closed at 1,643.44 points, increased 4.35 points or 0.27% with a trading value of 85.4 billion baht. The analyst stated that the Thai stock market bounced back after the recent decline to reflect negative sentiment in the past few days. The market is monitoring the Fed’s meeting tonight. If the signal from the FOMC is in line with the market expectations, SET Index could extend its gain tomorrow, giving a support level at 1,630 points and a resistance level at 1,660 points.


2) SPRC said no injuries in the oil spill incident while having insurance coverage

SPRC made a report of an oil spill incident at the offshore Single Point Mooring (SPM) located approximately 20 km southeast of Map Ta Phut Industrial Estate in the Gulf of Thailand. The incident occurred on 25 January 2022 at approximately 21.06 hrs. and the leakage is currently under control. The spill on water is currently estimated at 20 tons.

For the refinery side, SPRC will continue to operate per plan and expect no material financial impact and there have been no reports of any injuries resulting from the incident. The company has insurance coverage under property damage and business interruption, marine cargo, and third party liability.


3) PLANB acquires AQUA’s OOH businesses to strengthen portfolio

Plan B Media Public Company Limited (SET: PLANB) has announced this morning that the company has resolved to acquire two out-of-home media businesses from Aqua Corporation Public Company Limited (SET: AQUA) with a total purchasing price of approximately THB 2,882 million. PLANB will issue a capital increase through a private placement at a price of THB7.22 per share, totaling 606 million baht.


4) Thailand to ban use of cryptocurrency as means of payment

BOT, SEC, and Finance Ministry have examined the benefits and risks of digital assets and determined that it was necessary to regulate the use of cryptocurrencies as a means of payment for goods and services and to prohibit payment via digital assets. The SEC is set to hold a public hearing through February 8 prior to announcing the digital asset law. Following that, businesses will have 15 days to comply with the rules; any that continue to take digital assets as payment will face prosecution.


5) Shenzhen gets a green light for next round of reforms

Chinese authorities have given a greenlight to the southern city of Shenzhen to pursue reform in areas such as relaxed market access for cross border data trading and an electronics trading platform, according to guidelines published on Wednesday show.