Market Roundup 18 April 2022

1) Thai stock market overview

Thailand’s SET Index closed at 1,668.06 points, decreased 6.28 points or 0.38% with a trading value of 64 billion baht. The analyst stated that the Thai stock market moved in negative territory, following the decline in Asian markets, pressured by concerns of rising inflation that could push the Fed for an aggressive move on rate hike and shrinking balance sheet. The move could result in higher bond yield, which is a negative sentiment to the stock market. 

The analyst stated that the buying pressure in the energy sector and small and mid-cap stocks speculation were able to cushion the fall in SET Index, expecting tomorrow session to move in sideways trends, giving a support level at 1,660-1,665 points and a resistance level at 1,680-1,685 points.


2) SCB falls 15% on last tender offer date

The share price of The Siam Commercial Bank Public Company Limited (SET: SCB) plunged 15% to THB89.75 per share on April 18, 2022, which is the last day of tender offer for SCB’s securities as the company will soon be delisted from the Thai stock exchange and listed as SCBx instead. 


3) Thai economy can “look through” short-term volatility in inflation, says BOT

The Bank of Thailand pledged to maintain accommodative monetary policy to support economic recovery noting it can “look through” short-term volatility in inflation, saying that inflation is accelerating as a result of supply-side factors.


4) China 1Q22 GDP beats expectations with a 4.8% rise

China’s first quarter gross domestic product (GDP) of 2022 rose by 4.8%, beating economist expectations of a 4.4% increase from the same period last year, according to the data released by the National Bureau of Statistics on Monday.