Asian stocks experienced a significant surge yesterday, a continuation of the global equity rally, following encouraging Chinese economic data that sparked optimism about the imminent culmination of major central banks’ tightening initiatives. Despite the overall momentum, Thai stocks saw a slight dip of 0.3% from the prior week, closing at 1,542.03 on Friday, with an average daily turnover of 46.97 billion baht.
The Chinese yuan rose to a two-week high against the US dollar on the back of these favourable economic figures. Notably, retail sales jumped by 4.6% year-on-year in August, marking a significant increase compared to July’s 2.5%. Industrial production also saw a substantial surge of 4.5%, surpassing expectations.
However, the outlook for China’s property sector was downgraded from stable to negative by Moody’s, citing…
