Market Roundup 18 August 2022

1) Thai stock market roundup

Thailand’s SET Index closed at 1,636.07 points, decreased 3.65 points or 0.22% with a trading value of 76 billion baht. The analyst stated that the Thai stock market moved in negative territory in the same direction as regional markets after the Fed signalled that it would remain aggressive until inflation is substantially at a lower level. Meanwhile, the SET Index also gained 100 points in recent days, resulting in a rebase position. The analyst expected the market to move in sideways trends tomorrow without positive drivers to support the market.


2) “Satit Viddayakorn” raises THB11.9 billion through the sale of 8.4% stake in BH

Mr. Satit Viddayakorn, a Thai businessman, raised THB11.9 billion through the sale of 66.9 million shares of Bumrungrad Hospital Public Company Limited (SET: BH) at the bottom of a THB178–Bt181 marketing range, according to the report of IFR.

The company has yet to report in a filing to the market of these transactions.

The sale represented 8.4% of BH total paid-up stocks, and was made at an 8% discount to the pre-deal close of THB193.50 per share as of the closing on August 17, 2022.


3) Tiktok to ban paid political contents ahead of US midterm election

The Chinese-owned social video platform TikTok announced on Wednesday that it is now working to ban content providers from posting paid political messages on the app, in advance of the US midterm election in November.

During a conference with reporters, Eric Han, TikTok’s head of US safety, said that the firm is working to close the loophole by holding briefings with creators and talent agencies to remind them that publishing paid political content is against TikTok’s policies.

Last week, Twitter announced plans to revive previous midterm election measures, such as labeling some misleading tweets and placing reliable information into timelines to rebut false claims.


4) Myanmar Plans to import Russian oil to ease supply constraints and rising prices

Myanmar plans to import oil from Russia to ease supply constraints and rising prices, a junta spokesperson said on Wednesday, making it the latest developing nation to do so amid the global energy crisis.

Meanwhile, Russia is looking for new clients as its main export destination, Europe, imposes a phased embargo on Russian oil later this year.