1) Thai stock market overview
Thailand’s SET Index closed at 1,698.40 points, increased 8.66 points or 0.51% with a trading value of 98 billion baht. The analyst stated that the Thai stock market moved higher, boosted by buying pressure in retail, power generating and banking stocks, but unable to close above the 1,700 level. The analyst stated that the Thai central bank made a lower-than-expected cut of GDP growth forecast, resulting in a positive sentiment in the market. In addition, tomorrow’s movement should move in sideways trends, giving a support level at 1,695 points and a resistance level at 1,705 points.
2) US FDA approves Pfizer and Moderna 4th shot for people age 50 and over
The Centers for Disease Control and Prevention (CDC) of the United States of America has authorized fourth Covid vaccine doses for adults age 50 and over amid uncertainty of even more contagious Covid-19 variant than omicron to appear, which could cause even more damage than the current strain has done to the U.S. economy. The FDA authorized Pfizer and Moderna as the fourth shot.
3) Thai central bank maintains policy rate at 0.50%, cutting GDP growth by 0.2pp
The BOT’s Monetary Policy Committee (MPC) unanimously voted on Wednesday to maintain the policy rate at its historic low of 0.50 percent, citing Thailand’s economy’s continued recovery in line with domestic demand and tourism.
Despite the fact that the sanctions against Russia have caused gas prices, oil prices, and inflation to rise, the Thai economy is expected to grow throughout the year 2022-2023, said the central bank.
GDP growth forecasts for this year have been lowered from 3.4 percent to 3.2 percent and from 4.7 percent to 4.4 percent in 2023.
4) Russia avoids default after paying $102 million in coupon payments
Russia has made $102 million in interest payments servicing its foreign debt securities despite complete financial isolation from the rest of the world.
The Finance Ministry said it transferred the funds to the National Settlement Depository in Russia, from where the coupon payment on the bonds maturing in 2035 is due to be distributed to investors.