Market Roundup 16 November 2022


1) Thai stock market overview

Thailand’s SET Index closed at 1,619.98 points, decreased 9.40 points or 0.58% with a trading value of 61 billion baht. The analyst stated that the Thai stock market moved in the same direction as regional markets in concerns of the missile that hit Poland and a selloff after the earnings season ended, especially on big-cap stocks.

The analyst expected SET Index to rebound tomorrow, boosted by inflow from APEC summit.


2) UK inflation soars to new 41-year high of 11.1%

Headline inflation in the United Kingdom surged faster than expected to a 41-year high of 11.1%, putting the Bank of England under pressure to hike interest rates again.

The Consumer Prices Index increase exceeded both the central bank’s estimate of 10.9% and the median forecast of 10.7% among economists.

According to the ONS, inflation would have been 13.8% higher if the government had not implemented an energy price guarantee in October, which capped increases in electricity and natural gas rates.


3) Number of IPO listings expected to hold steady across SEA amid sharp drop in funds raised

Compared to 2021, Southeast Asia in 2022 sees a 52% fall in IPO funds raised, even though IPO count and IPO market capitalization are expected to hold steady.

Thailand and Indonesia are top of the table in Southeast Asia for 2022; each raised above US$2 billion, collectively accounting for 76% of total funds raised across Southeast Asia. Meanwhile, Southeast Asia IPO markets are peppered with smaller-sized listings this year, bolstered by two blockbuster listings each having raised US$1 billion and above – PT GoTo Gojek Tokopedia Tbk and Thai Life Insurance Public Company.

REITs, the traditional stronghold in Southeast Asia saw only four listings in 2022 – a stark contrast from ten in 2021, that accounted for 23% of all funds raised across all SEA exchanges last year.