1) Thai stock market overview
Thailand’s SET Index closed at 1,689.74 points, increased 5.44 points or 0.32% with a trading value of 76 billion baht. The analyst stated that the Thai stock market was positive today, following the trend of the peace talks between Russia and Ukraine. However, upside of the market is limited, while facing profit taking during the session due to no other positive factors. The analyst expected SET Index tomorrow to move in sideways trends with a support level at 1,680-1,670 points and a resistance level at 1,695 -1,700 points, recommending investors to monitor the Thai Monetary Policy Meeting tomorrow.
2) Saudi says politics will be left out from OPEC’s policy decisions
Saudi Arabia’s energy minister Prince Abdulaziz bin Salman bin Abdulaziz Al Saud said in the interview with CNBC that OPEC+ will keep politics out of its decision-making in favor of the common good of stabilizing energy prices amid sanctions by Great Nations on Russian energy, world’s leading producers, over its invasion of Ukraine.
3) Thai baht continues to depreciate against greenback
Thai baht came off from a nearly 4-month high yesterday as the currency continues to depreciate against the U.S. dollars as investors are monitoring the economic recovery in Thailand after China announced another lockdown on the city of Shanghai. Meanwhile, Thai bonds are expected to continue seeing a selloff, resulting in a fluctuating baht.
4) Russian oil exports fall 26.4% over sanctions
Oil exports of Russia fell by more than a quarter in the week March 17-23 compared with the prior week, according to industry data.
Average daily shipments reached 495,300 tons, down by 26.4% from the week before, according to Bloomberg. The figure is equivalent to about 3.63 million barrels a day.