Kaohoon Morning Brief – 10 September 2021
Morning brief of major stories since the closing of Thai stock market on 10 September 2021.
Morning brief of major stories since the closing of Thai stock market on 10 September 2021.
10 ก.ย. 2564

1) ECB policy unchanged, recalibrating asset purchase
The European Central Bank (ECB) maintained its policy rate at 0%, on the marginal lending facility at 0.25% and on the deposit facility at -0.5% as Eurozone inflation went up to a decade high of 3% in August. ECB stated that the banks are not tapering, but recalibrating.
 
2) China heats up restrictions on gaming
Chinese regulators temporarily slowed down the approval of licensing process for new online games in the country in a move to heat up Beijing’s new measures against gaming addiction among young people. The share price of Tencent Holdings Ltd.fell 8.50% today, while NetEase, Inc. plunged 11%.
 
3) Moderna rose 7% for developing single-dose booster shot for COVID-19
The share price of the drug maker, Moderna Inc., rose more than 7% after the company’s announcement of developing a single-dose booster shot for COVID-19 and seasonal flu.
 
4) Better-than-expected U.S. jobless claims
The U.S. Labor Department said initial claims for unemployment benefits dropped by 35,000 to a seasonally adjusted 310,000 for the week ended September 4, 2021, the lowest level since mid-March 2020. The claims were lower than what analysts had expected of 335,000.
 
5) Small U.S. crude draw, China plans to release oil reserves
U.S. oil stockpiles fell 1.529 million barrels last week, much lower than analysts’ expectations for a draw of 4.612 million barrels. Meanwhile, China’s state reserves administration stated that it would release crude reserves to the market in phases to ease pressure of high costs on domestic refiners.
 