The Thai stock market fluctuated before dropping sharply at the end of the week. The SET moved within a tight range early to mid-week before surging amid hopes that there will be further relaxation of COVID-19 controls as the virus has been downgraded from a dangerous communicable disease. The Thai stock market moved in the opposition direction from other stock markets that tumbled after the Fed announced another 0.75% interest rate hike and signaled further rate increases during the remainder of the year. However, the SET pared all gains and tumbled at the end of the week on sell-offs of big-cap stocks in line with other Asian stock markets amid concerns towards global economic trends and the Fed’s tightening monetary policy.
On Friday, September 23, 2022, the SET closed at 1,631.71 points, up 0.08% over-week. The average daily trading value was THB65,311.10 million, down 12.01% over-week. The mai closed at 679.19 points, up 0.54% over-week.