The SET Index tumbled early in the week in line with other stock markets amid concerns towards the Fed’s big rate hike after the latest U.S. inflation hit a fresh 40-year high. The outcome of FOMC meeting scheduled for June 14-15 came out as anticipated, the Fed decided to raise its benchmark policy rate by 0.75% (the greatest rate increase in 28 years) to 1.50-1.75%. Such aggressive action stirred fears that central banks including the BOT would tighten their monetary policy and led to sell-offs of big cap stocks, especially energy, technology and finance stocks.
On Friday, June 17, 2022, the SET closed at 1,559.39 points, down 4.49% over-week. The average daily trading value was THB80,922.40 million, up 27.09% over-week. The mai closed at 602.59 points, down.6.25% over-week.