1) Thai stock market overview
Thailand’s SET Index closed at 1,671.72 points, decreased 24.36 points or 1.44% with a trading value of 87 billion baht. The analyst stated that the Thai stock market edged lower, following negative sentiment in the market from the unrest in Ukraine after Russia has reportedly captured Zaporizhzhia, Europe’s largest nuclear power plant.
Tha analyst expected the Thai stock market next week to move in sideways trends with a chance for a technical rebound if there are no escalations during the weekend, giving a support level at 1,660-1,670 points and a resistance level at 1,690-1,700 points.
2) Russia seizes Europe’s largest nuclear power plant in Ukraine
Russian military forces initiated an attack on Europe’s largest nuclear power plant and the ninth largest in the world in Ukraine early Friday morning. Ukraine’s state emergency service said on Friday that a fire broke out in a training building outside the nuclear plant during an intense fight between Russia and Ukraine.
Ukraine’s nuclear agency later said Russian military forces have taken control of the facility in Zaporizhzhia, Ukraine.
3) S&P cuts Russian credit score to CCC-
S&P Global Ratings cuts Russian credit score for the second time in a week, citing sanctions render a large part of Russia’s reserves inaccessible undermining the central bank’s ability to act as lender of last resort. The cut is by eight levels to CCC-, just two steps above a default ranking.
4) Thailand’s February inflation hits 13-year high as energy price soars
Thailand’s consumer price rose 5.28% YoY in February, the highest in 13 years and higher than 4.05% estimated by economists. Excluding fresh foods and energy, inflation rose 1.80%.
A surge in energy prices is the main reason for higher inflation in February, says the Ministry of Finance on Friday. Products in the energy segment rose 29.22% during the month, compared to a 19.22% rise in February 2021.
