Market Roundup 31 May 2022

1) Thai stock market overview

Thailand’s SET Index closed at 1,663.41 points, increased 9.80 points or 0.59% with a trading value of 97 billion baht. The analyst stated that the Thai stock market moved in the same directions as regional markets while expecting tomorrow to move in sideways trends, seeing positive sentiment in the market after being able to stand above 1,660 points, giving a support level at 1,640-1,645 points and a resistance level at 1,685-1,700 points.


2) Inflation in Euro-Zone at record high

Inflation in the euro-zone accelerated to an all-time high, intensifying the debate at the European Central Bank about how rapidly to raise interest rates from record lows.

Consumer prices jumped 8.1% from a year earlier in May.

The acceleration was driven by food and energy after Russia’s invasion of Ukraine sent commodity prices soaring. A gauge that excludes volatile items like those rose 3.8%.


3) China will cut purchase tax on low-emission cars to boost spending

China will cut the purchase tax for low-emission passenger vehicles by half in a bid to boost auto sales, according to a statement from the finance ministry on Tuesday. The move comes after COVID outbreaks and lockdowns eroded consumer confidence.

The tax reduction will apply to vehicles with no more than nine seats that are sold between June and December.