1) FSS expects SET Index to remain positive from overseas sentiment
Finansia Syrus Securities (FSS) expected SET Index to move in sideways-up trends within 1,630-1,650 points as the overall outlook in the market remains positive after the US inflation for October came out lower than expected and anticipation of Fed’s slowing down. Moreover, the relaxation of the Chinese quarantine period for inbound travellers could be a positive sentiment to the market as well.
FSS stated that the overall earnings in the third quarter was worse than anticipated, especially for the energy and petrochemical sector, but was positive on 4Q22 momentum as the economic recovery in Thailand would attract foreign funds.
2) SoftBank reports a net profit in Q3, but huge loss from Vision Fund
SoftBank reported a net profit of $21.77 billion in the third quarter of 2022 after reducing its stake in Chinese tech giant and retailer Alibaba. However, the Vision Fund investment unit announced a huge loss for the third straight quarter. Q322 alone reported a loss of $7.2 billion due to plummeting valuations of multiple startups the fund invested in.
3) Crypto.com CEO admits mishandling roughly $400 million ether transaction
Customers pulled funds from Crypto.com, a Singapore-based crypto exchange, after Crypto.com CEO Kris Marszalek over the weekend tweeted that the exchange mishandled a roughly $400 million ether transaction. The announcement came only after Twitter users flagged a strange transaction on the blockchain.