Asian shares fall as Fed talks tough on rates

RECAP: Shares in Asia fell yesterday after the head of the US Federal Reserve warned interest rates may have to climb further, stunting a rally in stocks and bonds and sending investors back to the dollar.

Thai shares moved in a range of 1,387.41 and 1,431.51 points this week before closing yesterday at 1,389.57, down 2.1% from the previous week, in daily turnover averaging 46.76 billion baht.

Retail investors were net buyers of 5.29 billion baht, followed by institutional investors at 873.29 million and brokers at 796.72 million. Foreign investors were net sellers of 6.96 billion baht.

NEWSMAKERS: Federal Reserve chairman Jerome Powell said on Thursday that the central bank is keeping its options for more interest rate hikes on the table although monetary policy is in “restrictive territory” and putting downward pressure on inflation. Markets now…