1) Thai stock market overview
Thailand’s SET Index closed at 1,660.01 points, decreased 3.40 points or 0.20% with a trading value of 70 billion baht. The analyst stated that the Thai stock market traded lower after reaching a resistance level at 1,663 points without positive factors to drive the market, while stocks in the energy sector also traded lower as well.
The analyst expected SET Index tomorrow to move within the range of 1,650-1,680 points and advised investors to monitor the Fed’s movement on balance sheet tightening.
2) Asia’s factory activity dips in May on China’s strict zero-Covid policy
Manufacturing in Asia slowed in May as China’s strict zero-COVID policy disrupted supply chains and dampened demand, adding to woes for those countries already battling with rising commodities prices.
Economies ranging from Japan to Taiwan and Malaysia are seeing a slowdown in factory activity, according to business surveys released on Wednesday, highlighting the challenges faced by many nations in implementing monetary policy to combat inflationary pressure.
3) Russia to seek other oil importers other than EU
Russia said that it will find other importers after the European Union leaders agreed in principle on Monday to cut 90% of oil imports from Russia by the end of 2022.
India, the world’s third largest oil importer, has been stocking up on Russian oil at significant discount prices. Meanwhile, China is also ramping up purchases of oil from Moscow at bargain prices as well.
After the announcement of a new measure by the EU, Mikhail Ulyanov, Russia’s permanent representative to international organizations in Vienna, said the oil ban reflects negatively on the bloc while adding that Russia will find other importers.
4) TRUE raises THB4 billion from disposing 300 million units of DIF
True Corporation Public Company Limited (SET: TRUE) has announced that on June 1, 2022, the company has disposed of 300,000,000 investment units in the Digital Telecommunications Infrastructure Fund (SET: DIF).
According to the report, TRUE has raised THB4 billion from the disposal of DIF at the price range of THB13.30–THB13.45 per share.