Market Roundup 12 October 2022

1) Thai stock market overview

Thailand’s SET Index closed at 1,560.78 points, decreased 1.90 points or 0.12% with a trading value of 47 billion baht. The analyst stated that the Thai stock market moved narrowly before the long holiday as investors were looking ahead to the U.S. inflation data amid quiet sessions in international markets as well.

However, the analyst noted that stocks in domestic plays edged higher after the report of consumer confidence increased in September.

The direction of the SET Index next week will depend on the U.S inflation. If the data came out higher than 8.1%, the Thai stock market could edge lower.


2) Thai industrial sentiment rises for 4 straight months

The industrial sentiment index in Thailand increased for the fourth consecutive month in September, hitting a 32-month high, due to stronger domestic demand and a recovery of the country’s key tourism sector, an industries group said on Wednesday.

The Federation of Thai Industries (FTI) said its industries sentiment index rose to 91.8 in September from 90.5 in the previous month.


3) Thai September consumer mood hit 8-month high, boosted by improved economic activity

Consumer confidence in Thailand hit a new eight-month high of 44.6 in September, up from 43.7 the previous month, lifted by improved economic activity following further easing in Covid-19 restrictions, data showed on Wednesday.

According to the University of the Thai Chamber of Commerce, the index has risen for the fourth month in a row.

Supporting factors include a new economic stimulus package aiming at mitigating the effects of Covid-19, further relaxation of pandemic restrictions, rising minimum wages since October 1, decreased oil prices, and increased exports in August.


4) UK economy shrinks in August

The UK economy unexpectedly contracted in August for the second time in three months, heightening the prospect of the country entering a recession.

The GDP dropped by 0.3% from July, with manufacturing and maintenance work in North Sea oil and gas fields being major contributors. The data also indicated how a spike in inflation was affecting consumers.

According to a Reuters survey of economic experts, growth was expected to be 0%.

The growth in output in July was revised down to 0.1% from a previous estimate of 0.2%, and GDP decreased 0.3% in the three months to August, the country’s first decline since the coronavirus outbreak in early 2021.