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11 Jul 2022

Financial Markets

The Baht tumbled while the SET continued to drop over-week


The Thai stock market dropped sharply over-week. The SET tumbled since the beginning of the week in line with other stock markets amid concerns that the Fed may raise rates more than 0.75% due to the higher-than-expected US June nonfarm payrolls and inflation rate. Moreover, the SET was pressured by fears of the global recession and spread of Omicron subvariants. The aforementioned negative factors caused sell-offs in various stocks, especially banking, finance and property stocks, while energy stocks faced further pressure from falling global oil prices.     
On Friday, July 15, 2022, the SET closed at 1,533.37 points, down 1.57% over-week. The average daily trading value was THB55,086.14 million, down 15.27% over-week. The mai closed at 564.78 points, down 1.32% over-week.

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Financial Markets