1) Thai stock market overview
Thailand’s SET Index closed at 1,593.85 points, decreased 6.56 points or 0.41% with a trading value of 39 billion baht. The analyst stated that the Thai stock market moved in the same direction as regional markets, lacking positive drivers. Meanwhile, investors were waiting to see 1Q23 results.
2) China 1Q23 GDP beats expectations, manufacturing activity in March expands 3.9%
The economic growth in China grew 4.5% in the first quarter of 2023 from a year earlier, according to the official announcement on Tuesday.
The growth in 1Q23 of the world’s second largest economy beat forecasts of a 4% expansion estimated by economists after the country abruptly exited the stringent zero-Covid policy in early January.
Gross domestic product also picked up from a 2.9% growth in the final quarter of last year.
Meanwhile, China’s manufacturing activity expanded 3.9% over the past year in March, official data showed on Tuesday, outpacing the 2.4% gain seen in January and February but falling slightly short of market forecasts as the country’s economy continued to recover from the COVID crisis.
Retail sales grew 10.6%, much above expectations of a 7.4% increase. It was a quicker rate of growth than the 3.5% saw in January-February.
3) BGRIM launches first EV charging station
B.Grimm has entered the EV charging station market and unveiled its first charging station in River City Bangkok, catering to the growing number of EV drivers. The company provides comprehensive end-to-end EV solutions and diverse investment models for commercial charging stations, including optional solar energy systems for clean energy generation. B.Grimm aims to install 100 EV chargers by the end of 2023.
