Market Roundup 20 May 2022

1) Thai stock market overview

Thailand’s SET Index closed at 1,622.95 points, increased 16.97 points or 1.06% with a trading value of 66 billion baht. The analyst stated that the Thai stock market moved in the positive direction as other Asian markets after China’s central bank cut the banks’ 5-year Loan Prime Rate, while Thailand’s Centre for Covid-19 Situation Administration (CCSA) relaxed more Covid-19 restrictions.

The analyst expected the Thai stock market next week to have a limited upside due to concerns of recession, giving a support level at 1,590 points and a resistance level at 1,650-1,630 points.


2) Thailand’s nightlife will reopen starting June 1

Thailand’s Centre for Covid-19 Situation Administration (CCSA) announced that the official reopening of nightlife entertainment venues, including pubs, bars, nightclubs and karaoke, in both newly adjusted green and blue zones will start from June 1 moving forward.

Meanwhile, the CCSA has also extended the state of emergency for an additional two months, until July 31.


3) GULF joins SCC to operate solar rooftop for industrial users

Gulf Energy Development Public Company Limited (SET: GULF), through its subsidiary, will join forces with SCG Cleanergy Company Limited (SCG Cleanergy), a direct subsidiary of The Siam Cement Public Company Limited (SET: SCC) to engage in the production and sale of solar energy from rooftops to industrial users which are companies in SCC’s Group and customers of GULF’s SPP power plants.

This is to expand GULF’s customer base to industrial and commercial customers within the network of both company groups.


4) US and Britain provide $530 million of funds to Ukraine

Ukraine received around $530 million of funds for donations from the U.S. and Britain through the World Bank in the wake of Russia’s invasion.

The U.S. donated around $500 million, while Britain donated roughly $30 million. The fund will arrive in Kyiv in the state of budget, according to the statement from the finance ministry on Thursday.