1) Thai stock market overview
Thailand’s SET Index closed at 1,646.08 points, decreased 1.59 points or 0.10% with a trading value of 58 billion baht. The analyst stated that the decline in the morning session was due to investors’ concerns over Thai inflation in May that reached 7.1%. However, the afternoon session started to recover following positive momentum from European markets. The analyst expected SET Index to move in sideways trends tomorrow to wait for the Monetary Policy Committee meeting on June 8, giving a support level at 1,640 points and a resistance level at 1,650 points.
2) JTS moves to FTSE SET Large Cap Index in semi-annual review
In a semi-annual review of FTSE SET Index Series, Jasmine Technology Solution pcl (JTS) was moved to FTSE SET Large Cap Index. Meanwhile, Asia Aviation pcl (AAV), Beyond Securities pcl (BYD), BTS Group Holdings pcl (BTS), Forth Corporation pcl (FORTH), NEX POINT pcl (NEX), Sabuy Technology pcl (SABUY) and The ONE Enterprise pcl (ONEE) were added into FTSE SET Mid Cap Index.
3) Boris Johnson to face vote of confidence today
The UK Prime Minister Boris Johnson will face a vote of confidence on June 6, 2022, as the petition was raised by lawmakers in his own party.
The vote of confidence came amid increasing dissatisfaction in Johnson’s leadership. The report from senior civil servant Sue Gray stated that many of the gatherings held at Downing Street and Whitehall during Covid-19 lockdowns over the last two years should not have been allowed to happen.
4) China’s PMI contracts for 3 straight months despite Shanghai lockdowns lifted
China’s services activity contracted for the third consecutive month in May, reflecting a delayed recovery despite the lifting of some COVID lockdowns in Shanghai, according to a private business survey released on Monday.
The Caixin services purchasing managers’ index (PMI) increased to 41.4 in May, up from 36.2 in April’s reading. Still, the monthly figure remained considerably below the 50-point threshold that distinguishes growth from contraction, despite China beginning to ease some of the strict restrictions that have freezed Shanghai’s financial district and disrupted global supply chains.
