Market Roundup 6 January 2023

1) Thai stock market overview

Thailand’s SET Index closed at 1,673.86 points, increased 10.00 points or 0.60% with a trading value of 73 billion baht. The analyst stated that the Thai stock market edged higher in the same direction as regional markets along with fund flows into big-cap stocks, especially electronics and reopening stocks. Meanwhile, investors speculated on banks for its upcoming annual financial results.


2) Shell expects to pay $2 billion to EU and UK as part of windfall taxes

Shell, the largest gas and oil company in Europe, said that it expected to pay about $2 billion in an additional tax to the European Union and UK for its newly approved windfall tax on the energy sector, despite the production of LNG (liquefied natural gas) in the fourth quarter of 2022 could be at its lowest since the acquisition of BG Group in 2016 for $53 billion due to a prolonged outages of its two major plants in Australia.


3) Eurozone Dec inflation drops for second month to 9.2%

Inflation in the euro zone fell for a second consecutive month in December, marking the first drop into single digits since September, the EU statistics agency said on Friday.

According to preliminary data released on Friday by Eurostat, headline inflation, which includes food and energy costs, came in at 9.2% year over year in December. This follows the headline inflation rate of 10.1% in November, which was the first modest fall in prices since June 2021.

Inflation has been showing indications of slowing, but experts believe it’s too soon to celebrate and don’t expect the European Central Bank to change its tone.


4) Tesla slashes Model 3 and Model Y prices in China for second time in 3 months

This is the second time in three months that Tesla cut down the car prices of Model 3 and Y. It was cut by 6%-13.5%, according to the calculations by Reuter based on the website.

At first the price was 265,900 yuan and now it has been cut to 229,900 yuan ($33,427).

The deliveries of Tesla in December fell down to 55,796, which was the lowest in five months, as they had to deal with their rising inventories.

Tesla Model 3 and Model Y have a lower price than the United States by 24% – 32%