Market Roundup 27 May 2022

1) Thai stock market overview

Thailand’s SET Index closed at 1,638.75 points, increased 5.02 points or 0.31% with a trading value of 66 billion baht. The analyst stated that the Thai stock market moved in positive territory following the Fed’s minutes that were according to the market’s estimate. Investors were looking forward to the U.S. PCE later tonight, which is forecast at +0.3% MoM and +4.9% YoY. 

The analyst expected the market will be pressured if the U.S. PCE is higher than expected, giving a support level for SET Index at 1,610-1,620 points and a resistance level at 1,654-1,666 points.


2) Thai central bank reserves rise to $227.5 billion for week ended May 20

Thai central bank reserves rose for the first time in two months to $227.5 billion in the week ended May 20, 2022. 

This is the first increase of Thailand’s international reserves in two months after the Thai central bank recorded international reserves of $273 billion in the week ended March 18, 2022 in which the reserves had been on a decline until the week ended May 20.


3) Thai exports in April expand 9.9%

Thai exports in April 2022 expanded 9.9% compared to the same period of last year, but lower than the consensus of 14.6% by economists and slower than a 19.5% growth in the previous month. 

In the same period, Thai imports rose 21.5% YoY, resulting in a trade deficit of $1,908 million.


4) Chinese industrial profits rise by 3.5% in April 

Chinese industrial firms’ profit fell at their fastest pace in two years in April as high raw material prices and supply chain chaos caused by COVID-19 curbs squeezed margins and disrupted factory activity.

According to data for the National Bureau of Statistics (NBS) and Reuters calculation, profits shrank 8.5% from a year earlier, swinging from a 12.2% gain in March. The slump is the biggest since March 2020.

Industrial firms’ profits grew 3.5% year-on-year to 2.66 trillion yuan ($395.01 billion) for the January-April period, slowing from an 8.5% increase in the first three months, the statistics bureau said.