Market Roundup 1 February 2022

1) Thai stock market overview

Thailand’s SET Index closed at 1,661.75 points, increased 12.94 points or 0.78% with a trading value of 59 billion baht. The analyst stated that the Thai stock market moved positively, following a gain in Wall Street over the night and a positive opening session in the European markets. SET Index saw a buying pressure in energy stocks, banking and electronics sectors.

The analyst expected SET Index to continue moving in a positive trend tomorrow, giving a support level at 1,650 points and a resistance level at 1,670-1,680 points.


2) Manufacturing activity in the Eurozone recovers as bottlenecked supply chain eased

Manufacturing activity in the Euro Zone advanced last month amid easing of supply chain bottleneck. However, the improvement was not evenly spread across all member countries and factories faced with high inflationary pressure.

IHS Markit’s final manufacturing Purchasing Managers’ Index (PMI) rose to a five-month high of 58.7 in January from December’s 58.0, below an initial “flash” estimate of 59.0.

An index measuring outputs showed healthy economic recovery  jumping to 55.4 from 53.8.


3) Experts cut SET Index 2022F forecast to 1,77pts amid Fed’s rate hikes

Trinity Securities cut SET Index year-end forecast to 1,770 points on Tuesday, as the market has been dominated by concerns over whether the Federal Reserve’s rate hike will come sooner than expected, forcing the US 10-year treasury yield to rise significantly since the start of 2022.