Market Roundup 20 April 2022

1) Thai stock market overview

Thailand’s SET Index closed at 1,680.35 points, increased 4.73 points or 0.28% with a trading value of 69 billion baht. The analyst stated that the Thai stock market moved narrowly in positive direction in response to better-than-expected earnings of the banking sector, while the government is expected to consider relaxing restrictions for inbound travelers.

The analyst expected SET Index to move in sideways trends with a support level at 1,670-1,680 points and a resistance level at 1,690-1,700 points.


2) IMF trims Thailand’s economic growth forecast to 3.3%

The IMF lowered Thailand’s GDP growth prediction to 3.3 percent from 4.1 percent, in line with local institutions, citing that the war is expected to further increase inflation, and tightening of Western sanctions against Russia over energy exports would cause another major drop in global output.


3) China imports Russian coking coal with steep discount

China more than doubled its import of steel-making coal from Russia in March. The purchases were made at deep discounts as other nations shunned away from Russian deliveries amid war in Ukraine.

Coking coal imports from Russia jumped to 1.4 million tons in March, compared to 590,000 tons for the same month last year and 1.1 million tons in February.


4) Netflix plunged 25% after hours on loss of subscribers

The share price of Netflix Inc (NASDAQ: NFLX) plunged 25.73% to $258.90 after hours following the report of loss in subscribers for the first time in 10 years.

The company on Tuesday reported a loss of 200,000 subscribers during the first quarter of 2022, marking its first loss in paid users since October 2011. It expected a loss of 2 million paid subscribers for the second quarter.