1) Thai stock market overview
Thailand’s SET Index closed at 1,639.09 points, decreased 1.45 points or 0.09% with a trading value of 84.7 billion baht. The analyst stated that the Thai stock market moved in the same direction as Asian markets amid tension at the Ukrainian border and the Fed’s meeting that investors were speculating for a rate hike. However, a buying pressure of big-cap stocks in the afternoon helped mitigate the earlier loss in the morning session.
The analyst expected SET Index to move in a sideways direction tomorrow with a support level at 1,630 points and a resistance level at 1,650 points.
2) Exports could be key in reviving Thailand’s economy in 2022
Thailand’s exports rose 24.2 percent in December, with full-year growth of 17.1 percent to US$271 billion. With exports growing by double digits for four consecutive months, economists believe this sector will play a key role in Thailand’s economic recovery this year.
In December, exports totaled US$24.9 billion, setting a new record, with strong sales in main product categories such as passenger vehicles (+47.3%), chemicals (+38.9%), construction materials (+30.7%), agricultural products (+21.1%), and plastics (+20.2%), boosted by the recovery in trade and the global economy, as well as the rush by importers in many countries to build stocks ahead of the new year.
3) South Korean economy rose to 11-year high amid exports boom
Economy of South Korea expanded at the fastest pace in 11 years in 2021 at 4.0%, supported by strong exports and construction activity. The BOK expects GDP to grow 3.0% this year as Asia’s fourth-largest economy benefits from strength in chips exports and increased public spending. However, downside risk exists with lower consumption amid a surge in omicron cases in the country.
4) Thai govn’t approves mining leases to Kingsgate to restart operation at Chatree Gold Mine
Kingsgate Consolidated Limited (ASX:KCN) announced that it has now received from the Thai Government the 4 outstanding mining leases (MLs) required to operate the Chatree Gold Mine. These leases comprise 3 Chatree South leases and the Quartz Lease, which has been pending approval since 2011 and is needed to fully optimize the A Pit.
