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Sunday, May 5, 2024

Fed signals send shares on a bumpy ride

Recap: Global markets were mixed yesterday after being whipsawed throughout the week as investors reacted to Federal Reserve signals pointing to aggressive monetary tightening, while US GDP data showed surprisingly strong growth in the fourth quarter despite the spread of Omicron.

The SET index moved in a range of 1,617.87 and 1,654.99 points this week before closing yesterday at 1,639.51, down 0.8% from the previous week, in daily turnover averaging 83.74 billion baht.

Foreign investors were net buyers of 4.38 billion baht and retail investors bought 1.58 billion. Institutional investors were net sellers of 3.83 billion baht and brokerage firms offloaded 2.12 billion baht worth of shares.

Newsmakers: The Federal Reserve gave a clear signal this week that it is ready to raise US interest rates in March for the first time since cutting them to zero after the…

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