Kaohoon Morning Brief – 3 November 2021

1) SCB invested in Bitkub for growth opportunities in the digital asset business

SCB, through its subsidiary, SCBS, invested 17.8 billion baht to acquire 51% shareholding in “Bitkub,” a leading digital asset exchange in Thailand. The investment in Bitkub is based on the recognition of significant growth opportunities in the digital asset business and will enable SCBS as a major shareholder to further develop the digital asset ecosystem in Thailand.

 

2) CDC cleared Pfizer’s Covid vaccine for children

The Centers for Disease Control and Prevention (CDC) cleared Pfizer’s Covid-19 vaccine for children ages 5 to 11 after a unanimous recommendation by the agency’s Advisory Committee on Immunization Practices. The vaccination for kids is expected to begin immediately.

 

3) Power shortage in China eased

Power shortage in China eased after the intervention of the Chinese government, according to the report from the Commonwealth Bank of Australia. The number of Chinese provinces with significant power shortages fell from 18 in early October to only 2 in mid-October.

 

4) Oil dropped as inventories pointed to gain

Oil prices dropped as data pointed to a gain in U.S. oil inventories last week while President Joe Biden is pressuring OPEC nations to pump more oil to ease the energy shortage crisis.