Market Roundup 22 March 2022

1) Thai stock market overview

 Thailand’s SET Index closed 1,677.87 points, increased 4 points or 0.24% with a trading value of 81 billion baht. The analyst stated that the Thai stock market edged higher, in line with other markets in Asia after the Fed affirmed that the rate hike would not impact the economy. Meanwhile, the energy and banking stocks also supported the market in today’s session as well.

The analyst expected SET Index tomorrow to move within the range of 1,668-1,685 points.


2) China Evergrande will miss earnings results deadline

Evergrande and two of its units listed in Hong Kong expect to delay publishing the results by March 31 because audit work has not been completed, citing the latest COVID-19 wave for the delay. 

Earlier Sunac China Holdings Ltd. and Shimao Group Holdings Ltd. also issued similar statements.


3) S&P Global Ratings to withdraw ratings for Russian companies

S&P Global Ratings, one of the prominent credit credit rating agencies in the world said on Monday it will withdraw ratings for all Russian entities before April 15. The decision comes weeks after parent company S&P Global said it was suspending all commercial operations in Russia amid tightening economic sanctions against Moscow after its invasion of Ukraine.


4) China Eastern stocks dropped 6.15% after the Boeing crash

The share price of China Eastern Airlines Ord Shs A dropped 6.15% to CNY5.34 a piece on Tuesday after the report of its flight MU5735 crashed yesterday late afternoon. The plane was a Boeing 737-800 in which the share price of The Boeing Company closed 3.59% lower at $185.90 per share on Monday and pointed to a rebound by 0.21% in the pre-market.