1) Thai stock market overview
Thailand’s SET Index closed at 1,661.89 points, decreased 7.08 points or 0.42% with a trading value of 76 billion baht. The analyst stated that the Thai stock market closed lower in the same direction of global markets in concerns of Fed’s rate hike and a profit taking after earnings report in the U.S. stock market as well as the war in Ukraine.
The analyst expected the decline in SET Index should slow down as the index level is drawing near the support level, but upside is still limited, giving a support level at 1,650-1,660 points and a resistance level at 1,670 points.
2) FTSE reduces SCB weight in All-World Index over lower float
Capital Nomura Securities stated that FTSE Russell made an announcement to reduce its weighting of SCB X Public Company Limited (SET: SCB) in the FTSE All-World Index due to lower float.
The downgrade in weighting will be effective at the closing of April 28, 2022, resulting in an outflow around $84.2 million.
3) Euro hits a 5-year low against dollar
The euro sank to its lowest level against the dollar since April 2017, weighed down by supply concerns after Russia announced its energy firm Gazprom will suspend gas deliveries to Poland and Bulgaria.
The common currency fell 0.2 percent to US$1.0616, exceeding the low reached in the early weeks of the coronavirus epidemic in March 2020, following Russia’s announcement that it would cut gas to Poland and Bulgaria. There is now a possibility that the euro may finish April below its 20-year uptrend.
4) World’s first ETP combining bitcoin and gold launched in Europe
The first ever exchange-trade product combining Bitcoin and gold has launched in Europe – offering twin prospects of long-term returns and inflation protection which is at least in theory.
The physically backed index product is known as 21Shares ByteTree BOLD ETP (ticker BOLD), via Swiss crypto ETP provider 21Shares and U.K. alternative investment provider ByteTree Asset Management, which conceptualized it.
