Market Roundup 21 February 2022

1) Thai stock market overview

Thailand’s SET Index closed at 1,694.32 points, decreased 18.88 points or 1.10% with a trading value of 105 billion baht. The analyst stated that the Thai stock market edged lower in the same direction as Asian markets, pressured by the situation between Russia and Ukraine that escalated during the weekend and early today. The uncertainty at the Ukrainian border led to a selloff in big-cap stocks, especially in the banking, telecom and energy sectors.

The analyst expected SET Index tomorrow to move in sideways trends, giving a support level at 1,680 points and a resistance level at 1,715 points.


2) Thai GDP growth beats expectations in 2021 with 1.6% expansion

The Office of the National Economic and Social Development Council (NESDC) announced that Thailand’s Gross Domestic Product (GDP) in 4Q21 expanded 1.9%, compared to a 0.2% decline in 3Q21. The increase was mainly a result of higher consumption demand domestically and internationally, coupled with easing lockdown measures and the reopening to boost the economy. Meanwhile, the GDP for 2021 grew faster-than-expected at 1.6%, compared to a 1.2% growth forecast.

NESDC expected the economy in 2022 to grow 3.5-4.5% from domestic demand, export growth, tourism and government investment.

3) Bad loans of Thai banks drop slightly at the end of December

Non-performing loans of Thai banks dropped slightly to 2.98% of total lending at the end of December from 3.14% at the end of September, helped by measures to support debtors, the Bank of Thailand said on Monday. The banking system remained strong with high levels of capital buffers, provisions and liquidity, the Bank of Thailand said in a statement. Loans grew 6.5% last year.


4) Falling home price in China slow down in January

Decline of home prices in China eased for a second month in January, offering a sign of hope for the debt-ridden property sector.

National Bureau of Statistics figures, new home prices in 70 cities excluding state-subsidized housing, fell 0.04% last month from December, when they dropped 0.28. Figures in the secondary market declined 0.28%, down for a sixth month.