1) Thai stock market overview
Thailand’s SET Index closed at 1,676.80 points, decreased 4.09 points or 0.24% with a trading value of 62 billion baht. The analyst stated that the Thai stock market moved in sideways with trends pressured by a profit taking in the afternoon session as the oil prices, which were trading at a higher level, could have a negative impact on the Thai economic recovery.
The analyst recommended investors to monitor the Monetary Policy Meeting next week on Thailand’s economic outlook and the acceleration of inflation, giving a support level of SET Index for next week at 1,650-1,640 points and a resistance level at 1,687-1,695 point.
2) US will provide natural gas to EU as the bloc aims to cut ties with Russia
The U.S. President Joe Biden said that it will work with international partners to provide more of liquified natural gas to European nations in a replacement of Russian gas in a move for the bloc to cut their dependence on Russia energy.
The U.S. said that it will provide at least 15 billion cubic meters of liquified natural gas to the bloc for next winter and moving forward.
3) ECB eyes extending bond-buying program amid possibility of deep recession
The European Central Bank would consider extending its stimulus program beyond this summer if the euro-zone falls into a “deep-recession” amid conflict in Ukraine, ECB board member Isabel Schnabel said on Thursday.
Among six other board members of ECB, Schnabel is the most hawkish and the central bank had “left the door ajar” in case events took a turn for the worse for the euro zone, which is highly dependent on Russian gas and other raw materials.
4) Japan expects to announce an economic package next week
Prime Minister of Japan, Fumio Kishida will order a package of measures next week amid worsening economic prospects.
The war added more to Japan’s price gains which has driven up costs for Japanese corporate goods by the fastest pace in four decades. Besides, the slide of the yen is expected to add to higher import prices.
