1) Thai stock market overview
Thailand’s SET Index closed flat at 1,677.95 points with a trading value of 70 billion baht. The analyst stated that the Thai stock market moved narrowly without positive factors to significantly boost the market. Meanwhile, investors were speculating in the banking sector after pricing in the downgrade of credit rating earlier, as well as electronics stocks due to their laggard positions.
The analyst recommended investors to monitor the upcoming Thai exports data, giving a support level for tomorrow’s session at 1,670 points and a resistance level at 1,690 points.
2) Tencent reports slowest revenue growth in 4Q21
Tencent Holdings Ltd., a Chinese multinational technology company, reported its slowest quarterly revenue growth on record for the fourth quarter of 2021, as the impact from regulatory tightening on the domestic technology sector, cutting time for children on playing video games, continues to pressure the company.
The revenue was up 8% to 144.18 billion Chinese yuan, the slowest pace since it went public in 2004.
3) Inflation in Britain hits 30 year-high at 6.2%
The Office for National Statistics said consumer prices rose by 6.2% in February after a 5.5% rise in January, its highest rate since March 1992. The Reuters poll of economists had median forecasts of 5.9%.
The ONS noted the main contributor toward higher inflation was due to energy bills up by almost 25% a year again along with petrol prices among other main drivers of the red hot inflation figure. The inflation numbers would push the Bank of England to push rates further.