Market Roundup 17 March 2022

1) Thai stock market overview

Thailand’s SET Index closed at 1,681.76 points, increased 13.84 points or 0.83% with a trading value of 97 billion baht. The analyst stated that the Thai stock market closed higher in the same direction as regional markets in response to the Fed’s signal of gradually hiking interest rates for the remaining of the six meetings this year. Meanwhile, the details of quantitative easing should be revealed in the next meeting. 

The analyst expected inflow to continue circulating into the Thai stock market in March and April, targeting net buy from foreign investors at around 140 billion baht by year’s end. 

The analyst expected SET Index to continue its climb, giving a support level at 1,677 points and a resistance level at 1,700 points.


2) US House considering legislation to revoke russia’s trade status

The U.S. House is finalizing a legislation that would remove Russia’s “most-favored-nation” trade status as President Joe Biden earlier called Vladimir Putin as “war criminal” and offered $800 million worth of new weapons to Ukraine.

Ukrainian President Volodymyr Zelenskiy urged the U.S. Congress for more help to pressurize the Russian military out of his country.


3) Macquarie launches DW over Dow Jones and NASDAQ-100 in Thailand

Macquarie Securities (Thailand) Limited has launched call and put derivatives warrants (DW) over the Dow Jones Industrial Average Index (DJI) and the NASDAQ-100 Index (NDX), on the Stock Exchange of Thailand (SET). The DW started trading on SET on Thursday, 17th March 2022.