Market Roundup 15 November 2022

1) Thai stock market overview

Thailand’s SET Index closed at 1,629.38 points, increased 6.00 points or 0.37% with a trading value of 61 billion baht. The analyst stated that the Thai stock market moved narrowly without drivers to boost the market as investors were waiting to see how China’s authorities will handle the situation after Covid-19 infections surged.

The analyst recommended investors to monitor the APEC 2022 summit for the possibility of further investment in Thailand.


2) ADVANC’s boards approved to pursue TTTBB and JASIF despite some conditions were not met

The Board of Directors of Advanced Info Service Public Company Limited (SET: ADVANC) gave a final approval to move forward with the acquisition of TTTBB and JASIF despite disapproval from shareholders of the latter on the condition precedents to terminate the Rental Assurance Agreement and the amendment of the Main Lease Agreement. Still, the Boards noted that the company saw the importance of pursuing digital infrastructure for the long-term business.


3) Guangzhou residents march on streets in frustration of China’s covid restrictions

Residents of Guangzhou’s Haizhu district smashed authorities’ Covid barriers and marched down streets in an attempt to express their frustration with Covid restrictions that have been extended and reimposed nonstop.

Many people were charging down streets and arguing with white hazmat-suit-clad workers late Monday night.

The COVID-19 infections, which were reported by authorities on Tuesday, were in the amount of 17,772, an increase from the previous day on November 14 in the amount of 16,072.


4) France’s annualized inflation hits 6.2% in October, the highest since 1985

The annual inflation rate in France was 6.2% in October, according to official numbers released on Tuesday, the highest since 1985, driven by energy and food prices.

According to figures released by the French statistical office Insee, annual inflation accelerated from 5.6% in September.

Prices for energy, food, and manufactured products increased by 19.1%, 12%, and 4.2%, respectively, year on year.

Insee also reported that monthly inflation in the country stood at 1%.