Market Roundup 25 November 2022

1) Thai stock market overview

Thailand’s SET Index closed at 1,620.84 points, decreased 4.12 points or 0.25% with a trading value of 36 billion baht. The analyst stated that the trading volume in the Thai stock market was quiet due to the holiday in the U.S., while there was no other positive factor to boost the market.

The analyst expected SET Index to move in sideways trend next week while waiting for new drivers, giving a support level at 1,610-1,615 points and resistance level at 1,630-1,635 points.


2) CP Holding disposes 1.5% stake in MAKRO to Credit Suisse

Thailand’s Securities and Exchange Commission (SEC) on Friday published an official filing of Siam Makro Public Company Limited (SET: MAKRO) indicating a disposal of 160 million shares, equivalent to 1.5122% of shareholding from Charoen Pokphand Hold Company Limited (CPH) to Credit Suisse AG, Singapore Branch.

CPH will remain the third major shareholder in MAKRO with 16.1822% stake after the transaction.


3) Tokyo’s inflation hits 40-year high in November as BOJ maintains dovish stance

Inflation in Tokyo rose at its fastest pace in 40 years, up from 3.5% in October to reach 3.8% in November, putting more pressure on the Japanese economy and the dovish central bank.

According to the data from the Statistics Bureau, the core consumer price index (CPI) in Tokyo rose 3.6% this month, indicating the highest pace since 1980, which was higher than the 3.5% expected by economists and 3.4% last month.

Despite inflation at 40-year high and Japanese yen at decades low, hurt by increased raw material prices, the Bank of Japan continued to keep its policy rate balance at -0.1%.

Japan’s consumer confidence dropped to 29.9 in October.


4) Tesla recalls 80,000 cars over software and seat belt problem, Chinese regulators say

The Chinese market regulator shows that Tesla Inc recalled more than 80,000 units of China-made and imported cars produced since 2013 due to software and seatbelt problems affecting the battery management system and potentially faulty seat belt installation in the vehicles.

The Model S and Model X have been recalled 67,698 units by the U.S.-based electric car maker between September 25, 2013 and November 21, 2020.

The company also recalled imported Model 3 cars manufactured of 2,736 units between January and November 2019, with the same model in China made of 10,127 units due to potentially faulty seat belt installation which the company will check and reinstall.

In April, the total of Tesla recalled on Model 3 cars in China was 127,785 units due to potential faults in semiconductor components to collision.