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26 Sep 2022

Financial Markets

The Baht weakened while the SET dropped sharply over-week


        The Thai stock market dropped sharply over-week. The SET Index tumbled throughout the week, which was mainly due to the sell-offs of foreign investors. The Thai stock market moved in line with other regional stock markets amid concerns over the global economic outlook as a result of the acceleration of interest rate hikes by central banks especially the US Federal Reserve (Fed). The Bank of Thailand’s MPC meeting also raised its policy rate by another 0.25% at the meeting on September 28, and lowered Thailand’s growth forecast for 2023. Big-cap stocks in the energy, finance and banking sectors were among the most sold stocks this week.    
        On Friday, September 30, 2022, the SET closed at 1,589.51 points, down 2.59% over-week. The average daily trading value was THB71,505.94 million, up 9.49% over-week. The mai closed at 653.29 points, down 3.81% over-week.

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Financial Markets