1) Thai stock market overview
Thailand’s SET Index closed at 1,629.58 points, decreased 13.72 points or 0.83% with a trading value of 72 billion baht. The analyst stated that the Thai stock market ended today’s session lower in the same movement as other Asian markets, following a plummet in Wall Street last night, seeing the Fed pointing to a 75bp rate hike as an indication for high inflation.
The analyst recommended investors to be more cautious next week and pick specific stocks to invest, giving a support level at 1,600-1,620 points and a resistance level at 1,650 points.
2) Finland’s central bank pressures ECB for quicker rate hike
The member of the European Central Bank are pressuring the committee for a quick move in raising interest rates in order to curb surging inflation, while requiring the balance of policy to keep the economic recovery in place, according to Olli Rehn, governor of the Bank of Finland and member of the Governing Council of the ECB, speaking to CNBC.
The governor of Finland’s central bank noted that an escalation of war between Russia and Ukraine could derail the economic recovery.
3) OCA Announces Decision to Postpone Asian Games 2022 in China
The Olympic Council of Asia (OCA) announced Friday the postponement of the 19th Asian Games, which were scheduled to begin in mid-September in Hangzhou, China.
The Executive Board of the Council, in discussion with the Chinese Olympic Committee (COC) and the Hangzhou Asian Games Organising Committee (HAGOC), decided to postpone the Games, with new dates to be announced in the near future, it said.
There was no explanation for the delay, but the announcement comes as China battles a resurgence of Covid.
