Market Roundup 22 April 2022

1) Thai stock market overview

Thailand’s SET Index closed at 1,690.59 points, increased 0.04 points or less than 0.0% with a trading value of 71 billion baht. The analyst stated that the Thai stock market mostly moved in negative territory, but made an uptick late afternoon to close slightly higher at the closing. The market was mostly pressured by the Fed’s statement of aggressive rate hike to calm inflation, however, the announcement of cancelling Covid-19 restrictions for inbound travelers today could help buoy the market as well. 

Next week, the analyst expected the market to move in sideways trends in a limited range giving a support level at 1,668 points and a resistance level at 1,690-1,700 points.


2) Thailand to remove RT-PCR testing for arrivals from May 1

Thailand’s Centre for COVID-19 Situation Administration (CCSA) at the meeting on Friday approved the cancellation of mandatory RT-PCR test on arrival for inbound travelers, effective from May 1 onwards.

According to a post-meeting press conference, the RT-PCR test upon arrival will be replaced with a rapid antigen test. Visitors to Thailand who are not fully vaccinated, however, are still required to undergo the RT-PCR test on the fourth or fifth day of their arrival.


3) Chinese central bank vow to add more support to smaller enterprises

The Chinese central bank is ready to provide more support to smaller businesses as the country’s economic growth risks mount, said Governor Yi Gang.

Monetary policy is in a “comfortable range” and is helping support the economy, he said on a panel at the Boao Forum for Asia on Friday.


4) Traders waging euro zone to hike rate in September

Money markets are anticipating the European Central Bank would increase interest rate in three months to fan down inflation. Traders are pricing in a quarter-point hike in both July and September. This would mark the first hike in more than a decade.