Market Roundup 14 March 2022

1) Thai stock market overview

Thailand’s SET Index closed at 1,660.15 points, increased 2.14 points or 0.13% with a trading value of 65 billion baht. The analyst stated that the Thai stock market today closed with little changes in sideways movement as investors continued to monitor the negotiation of Russia and Ukraine and the upcoming Fed’s meeting on 15-16 March. Tomorrow, the analyst expected the stock market to continue moving in sideways trends in a range of 1,640-1,660 points.


2) Saudi will bring in poultry from Thailand after 32 years of divorce

Saudi Arabia will allow poultry imports from 11 establishments of Thailand, which will take effect immediately. GFPT Public Company Limited (SET: GFPT), one of Bangkok Ranch Public Company Limited (SET: BR) and six of Charoen Pokphand Foods Public Company Limited (SET: CPF) are among the approved establishments in the list of Saudi Food & Drug Authority (SFDA).


3) US to hold talk with China over Beijing’s relation with Russia

The U.S. and Chinese officials to hold first high-level in person talks on Russian-Ukraine tensions. The development came as U.S. officials said Moscow in the early days of the war sought form Beijing’s military equipment, which they said raised concerns that China ​could undercut Ukrainian forces’ defense efforts.


4) Hang Seng Index closes lower over Covid and tech stocks fear

The Hang Seng Index (HSI) closed 5% lower on Monday, leading Asian markets in losses as investors are monitoring the fresh wave of Covid-19 outbreak in China. Meanwhile, the tech stocks continued to fall amid fear of delisting U.S.-listed American depositary receipts of Chinese companies.

China is facing the largest wave of Covid-19 outbreak since the end of national lockdown in March 2020, as infection cases surged from a few hundreds to more than 2,000 on Sunday.  Hong Kong had just come off its record high of more than 56,000 cases per day in early March to 13,300 cases on Sunday.

Hang Seng TECH Index fell 11.03% on Monday, March 14, 2022.