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4 Feb 2022

Financial Markets

The Baht broke the THB 33.00/USD level, while the SET dropped on worries of US rate hikes


    Thai SET rose strongly from the previous week, ending at 1,674.22 points, up 2.12% over-week. The average daily trading value was THB65,938.28 million, down 21.26% over-week. The mai closed at 650.01 points, up 4.91% over-week.
    The SET remained robust throughout the week after having responded to concerns about the Fed’s tightening monetary policy. It was mainly supported by Thailand’s tourism stimulus measures  (Test & Go and We Travel Together schemes) and a spending stimulus measure (Co-payment scheme). Finance stocks were the biggest gain due to the sector rotation during the release of 4Q21 performance results, while technology and energy stocks also rose. However, this week’s turnover decreased in line with other Asian stock markets that were closed for the Lunar New Year.  

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Financial Markets