1) Thai stock market overview
Thailand’s SET Index closed at 1,701.45 points, increased 16.76 points or 0.99% with a trading value of 91.6 billion baht. The analyst said that the Thai stock market performed better than expected after the easing tension at the Ukrainian border on a report that Russian troops were returning to their deployment bases. Meanwhile, speculation in EV-related stocks also buoyed the market higher.
In addition, the analyst recommended investors to follow overseas issues for the trading trend on Thursday as the Thai stock market will close for holiday tomorrow. The support level for Thursday is 1,680 points and a resistance level is 1,710-1,714 points.
2) Russian troops returning to their bases
The Russian Defense Ministry reportedly announced that some troops had begun returning to deployment bases after training exercises near the Ukrainian border.
Defense Ministry spokesman Igor Konashenkov reportedly said that part of the Russian troops are returning to their places of permanent deployment from the site of the Allied Resolve-2022 exercises.
3) Thai Cabinet approves subsidies for EV buyers
The Cabinet of Thailand in the meeting on Tuesday resolved to approve subsidies for electric vehicle buyers to take effect from May 2022 onward for three years to boost the usage of clean energy and achieve carbon neutrality.
The subsidies include THB70,000-150,000 subsidies for electric cars and pickup trucks and THB18,000 for electric motorcycles, an excise tax cut and duties cut.
4) Japan’s 2021 GDP grows 5.4%
Japan’s economic growth rebounded 1.3% in the fourth quarter of 2021, while expanding 5.4% for the year. The growth is sharply driven by consumer spending after lifting emergency COVID-19 measures in October last year. Private consumption grew 2.7% year-on-year.