1) FSS expects SET Index to move narrowly as market lacks positive catalyst
Finansia Syrus Securities (FSS) expected Thailand’s SET Index to continue moving in a sideways trend with a support level at 1,540 points as the overall outlook still lacks positive catalyst amid rising U.S. bond yield in concerns of returning inflation after crude oil prices edged higher.
The analyst recommended investors to monitor the meeting of the new Thai cabinet for more clarity on stimulus measures.
2) Brent crude surges above $90 after Saudi announces output cut until end of 2023
Oil prices rose above $90 a barrel for the first time since November after Saudi Arabia and Russia on Tuesday said that they would extend the voluntary production cut until the end of this year.
The international benchmark Brent crude rose 1.68% last night to close at $90.04 per barrel and extended its gain in the morning session of Asian markets with another 0.12%. Meanwhile, the West Texas Intermediate rose 1.33% last night and continued to gain 0.10% in the morning to trade at $86.76 a barrel.
3) Apple, Google and Nvidia are interested in buying stake of chip designer Arm
Global leading chip design firm Arm stated in its filing that Apple, Alphabet, Nvidia and other top technology companies showed interest in buying up to $375 million of its shares as the chip designer is seeking a listing on Nasdaq.
Intel, Samsung, TSMC, AMD and MediaTek are among those who are interested in investing in Arm.