1) Thai stock market overview
Thailand’s SET Index closed at 1,680.89 points, increased 2.94 points or 0.18% with a trading value of 66 billion baht. The analyst stated that the Thai stock market moved narrowly with low trading volume, but still in a positive direction following regional markets. The analyst expected foreign inflow was focusing on mid and small-cap stocks along with buying pressure on energy stocks. The analyst recommended investors to monitor NATO’s decision on imposing further sanctions on Russia, giving a support level for tomorrow’s session at 1,670 points and a resistance level at 1,690 points.
2) Russian stock market trades higher on first day after a month-long hiatus
The Russian stock market traded higher on the return for a limited time trading session on Thursday after nearly a month-long hiatus from the war with Ukraine and western sanctions. The MOEX Russia Index was up 7% at noon of its local time. The market only opens for trade between 9:50 a.m. and 2 p.m. local time. Foreign investors are unable to sell stocks or OFZ ruble bonds until April 1.
3) NESDC warns rising oil prices could slow Thai GDP growth
Thailand’s Office of the National Economic and Social Development Council (NESDC) warned that the Russia-Ukraine war could jeopardize Thailand’s economic recovery and cause GDP growth to slow down this year
The impact of both rising energy prices and tourism is projected to lead Thailand’s economy to expand at a slower rate than previously anticipated, but NESDC believes the GDP growth could still be able to increase by at least 3 percent.
4) Thai exports grow 16% in February
Thailand’s exports rose 16.2 percent to USD23,483 million in February, exceeding the ministry’s estimate of 10.0-11.0 percent growth, while imports up 16.8 percent to USD23,359 million, the Ministry of Commerce reported on Thursday. As a result, the nation’s trade surplus was USD123.3 million.
For the first two months of 2022, export value expanded to USD44,741 million, an increase of 12.2 percent year-on-year. Meanwhile, imports totaled USD47,144 million, resulting in a USD2,403 million trade deficit.
