Market Roundup 5 August 2022

1) Thai stock market overview

Thailand’s SET Index closed at 1,601.09 points, increased 2.34 points or 0.15% with a trading value of 58 billion baht. The analyst stated that the Thai stock market moved relatively stable with a selloff from energy stocks due to plummeting oil prices, but banking and retail stocks were able to move the market higher.

The analyst expected the Thai central bank to increase interest rate by 0.25% in the meeting next week and advised investors to monitor US non-farm payroll and job reports.


2) Thai investor confidence jumps near 104 in July vs. 64 in June

The Federation of Thai Capital Market Organizations (FETCO) stated that the survey for the Investor Confidence Index in July 2022 rose to 103.92, increased by 60.9 percentage points from 64.57% in June.

The index indicates investors’ confidence for the next three months, while the 103.92 level in July is considered “stable”.

FETCO stated that investors believe the recovery in Thai tourism will be the main factor to support investors conference, while Fed’s monetary policy and domestic economic recovery come in second and third.

On the other hand, disputes in foreign affairs, interest rate hike and rising inflation are the factors that weigh confidence down.


3) China imposes sanctions on Nancy Pelosi

China imposed sanctions on the U.S. House Speaker Nancy Pelosi and her immediate family, after opposing Beijing’s warning, visited Taiwan on Wednesday and Thursday. Beijing described her action as an egregious provocation.

The statement by the Chinese government did not include specific details about the nature of the sanctions.