1) Thai stock market overview
Thailand’s SET Index closed at 1,703.00 points, increased 0.16 points or 0.01% with a trading value of 112 billion baht. The analyst stated that the Thai stock market moved narrowly after a huge surge yesterday while investors were waiting for the U.S. inflation data that should come out tonight. Meanwhile, the buying pressure is flooding into the banking sector, focusing on stocks that trade below its P/E.
The analyst expected the U.S. inflation will guide the market tomorrow, and will pressure the market if the data comes out higher than the estimate of 7.2%.
2) INTUCH reports THB10 billion in 2021 earnings, with a THB1.60 dividend payment
INTUCH reported a net profit of THB10,748 million, a drop of 3% from the previous year, mainly due to a lower contribution from ADVANC and THCOM. The operational expenses, including directors and management benefits, were THB376 million, a rise of 18% from 2020 due to the company restructuring. However, these 2021 expenses were under THB300-400 million.
INTUCH will pay a dividend from the second half of 2021 operating results (1 July-31 December 2021) at the rate of THB1.60 per share.
3) M&A in crypto space jump to record high in 2021
According to a PwC report, the value of mergers and acquisitions in the cryptocurrency industry jumped 4,846% in 2021. The report stated average deal size reached $179.7 million from $52.7 million, driven partly by special-purpose acquisition company deals. Crypto fundraising deal value rose 645%. The top five investors by deal count were AU21, Genesis Block Ventures, Genblock Capital, Coinbase Ventures and Moonwhale.
4) JPMorgan expects crude oil at a record of $150 if Russia halves exports
JPMorgan is warning a spike in oil prices would likely come as a result of disrupted oil flows from Russia should the U.S. sanction it for hostile activities in Ukraine. Derailing Russia’s crude exports would result in a rise in Brent crude to easily reach $120 a barrel. And if Russian oil exports are cut in half, Brent oil prices would likely spike to $150 a barrel, which would be a record high for oil price, according to JPMorgan’s estimate. The current record is $147.50 a barrel set in July 2008.
