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29 Aug 2022

Financial Markets

The Baht tumbled while the SET dropped over-week


        The Thai stock remained volatile and dropped over-week. The SET tumbled in line with other stock markets amid concerns over the Fed’s pace of rate hikes, as the Fed Chairman signaled steady interest rate increases until inflation is under control. Meanwhile, several Fed officials see the benchmark rate rising above 4% next year. However, the SET rebounded shortly during the week, supported by purchases of foreign investors. During the week, finance stocks were further pressured by the news of the BOT’s public hearing, aimed at regulating the hire purchase/leasing businesses. Meanwhile, energy stocks were dampened by falling global oil prices.    
        On Friday, September 2, 2022, the SET closed at 1,622.15 points, down 1.38% over-week. The average daily trading value was THB76,080.93 million, up 6.48% over-week. The mai closed at 634.11 points, down 1.38% over-week.

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Financial Markets