Market Roundup 26 December 2022

1) Thai stock market overview

Thailand’s SET Index closed at 1,626.80 points, increased 9.25 points or 0.57% with a trading value of 29 billion baht. The analyst stated that the Thai stock market closed higher, following a positive session from Wall Street last Friday. The market is anticipating that there will be a window dressing, resulting in buying pressure in retail and telecommunication stocks. 


2) Many Chinese cities forecast Covid to peak in January amid accuracy worries

With growing concerns about the reliability of the Beijing government’s Covid-19 case report, local officials in Chinese cities and provinces reportedly expect the outbreak to peak in January.

China is suffering an unchecked spread of Covid, with cities and provinces reporting hundreds of thousands of daily infections exceeding the official national total.

The National Health Commission of China (NHC) on Sunday has decided to stop publishing daily Covid-19 case figures after concerns were raised about the reliability of the data. This comes after millions have been infected across the country while the official total remains pretty low.

Since the true tally of the outbreak in the country is unknown, estimating the economic impact is difficult.


3) Russia poised to resume gas shipments to Europe via Yamal-Europe pipeline

Russia’s Deputy Prime Minister Alexander Novak told the state-run TASS news agency on Sunday that Moscow is prepared to restore gas shipments to Europe via the Yamal-Europe Pipeline.

“The European market remains relevant, as the gas shortage persists, and we have every opportunity to resume supplies,” Novak said, according to TASS, in comments published on Sunday.

“For example, the Yamal-Europe Pipeline, which was stopped for political reasons, remains unused.”

In addition, Novak reaffirmed that Moscow is exploring expanding gas shipments via Turkey following the establishment of a terminal in that country.

He added that by 2022, Moscow anticipates having sent 21 bcm of liquefied natural gas (LNG) to Europe.