Market Roundup 18 May 2022

1) Thai stock market overview

Thailand’s SET Index closed at 1,620.33 points, increased 5.84 points or 0.36% with a trading value of 73 billion baht. The analyst stated that the Thai stock market was volatile during today’s session, but the positive momentum on reopening should buoy the market in the afternoon to positive territory. 

The analyst expected tomorrow’s session to move in sideways trends after pricing in all the positive sentiment in recent days, giving a support level at 1,600-1,605 points and a resistance level at 1,625-1,630 points.


2) UK inflation soars to 40-year high 

U.K. inflation jumped to a 40-year high at 9% in April, according to the government’s official data released on Wednesday, as rising food and energy prices continued to weigh on consumers.

The 9% rise for the United Kingdom in the consumer price index (CPI) in April 2022 is the highest since the first data recorded in 1982, topping the 8.4% annual rise in March 1992 and well ahead of the 7% increase in March this year. 


3) Thailand’s industries sentiment index fell to a five-month low in April 

Thailand’s industries sentiment index fell to a five-month low in April amid high production costs as the invasion of Russia in Ukraine had pushed the price of energy and raw materials higher.

The Federation of Thai Industries (FTI) reported that its industries sentiment index fell to 86.2 last month after an increase to 89.2 in March.


4) Sri Lanka is set to its historic default

Sri Lanka is set to default on $12.6 billion on offshore bonds as its new prime minister struggles to stabilize an economy spiraling into chaos fueled by a lack of dollars and surging inflation.

The debt strapped nation is at the end of grace period on $78 million payment. Its bonds already trade deep in distressed territory, with holders bracing for losses approaching 60 cents on the dollar. The government said last month it would halt payments on foreign debt.