SET Index Rebounds 20 Points as Shanghai Targets June COVID Lockdown Exit

The SET Index jumped 20 points to above the 1,600-level in the early morning session, after Thailand reported a stronger-than-anticipated economic growth in the first quarter of 2022, while China expects to ease lockdowns in Shanghai in June.

SET Index rose 19.45 points, or 1.23% to 1,603.83 points, with a total trading value of THB45,309 million.


CGS-CIMB Securities (Thailand) stated that today’s surge in the SET Index was aligned with a positive sentiment in the global market, in response to a report that Shanghai will end the COVID-19 lockdown and resume normal operations in June amid an economic slowdown.

Meanwhile, Thailand’s gross domestic production in the first quarter of 2022 grew at a faster-than-expected rate at 2.2% from the same period last year, according to the official data showed on Tuesday. The growth came from strong exports and the relaxation of COVID-19 restrictions despite higher inflation that affects domestic consumption.

CGS-CIMB expects the SET Index to move in the range of 1,595-1,610 points in the afternoon session.