1) Thai stock market overview
Thailand’s SET Index closed at 1,701.31 points, increased 6.07 points or 0.36% with a trading value of 68 billion baht. The analyst stated that the Thai stock market outperformed regional markets after pricing in all negativity, whether it be the war in Ukraine and Fed’s rate hike. Meanwhile, investors were looking forward to the economic recovery in Thailand around mid year.
The analyst expected SET Index to move in sideways to sideway-up trends next week, giving a support level at 1,685 points and a resistance level at 1,720 points.
2) Thai business confidence in March exceeds 50pts for the first time in a year
Business confidence in Thailand increased to 50.70 points in March from 47.80 points in February, surpassing the 50-point level for the first time in a year, the Bank of Thailand reported on Friday.
The bank said that a surge in business confidence is attributed to the global economic recovery, led by the electronics manufacturing industry.
Besides the manufacturing sector, sentiment in the hotel and restaurant industry also surpassed the 50-point level for the first time since the COVID-19 outbreak began. It was because the government has continued to loosen COVID control measures.
3) Eurozone inflation hits record high in March at 7.5%
Eurozone inflation in March rose to a fresh record high at 7.5% as cost of living gets pricier due to a rise in energy and food prices on the back of the Russian invasion of Ukraine.
In February, annual inflation was at 5.9%, which was already high compared to the 2% seen as guaranteeing price stability.
4) Thailand lifts pre-arrival Covid test for tourist arrivals
People arriving from abroad, however, are still subject to RT-PCR tests upon arrival and are required to stay in their pre-booked hotels until a negative result is available. They are also required to take an antigen self-test (ATK) on Day 5 following their arrival.
Furthermore, the Tourism and Sports Ministry is considering lifting the Thailand Pass requirement for arrivals under the Test and Go, sandbox, and other quarantine programs beginning June 1st, if COVID-19 cases remain between 50,000 and 60,000 a day and the daily fatalities does not surpass 100.