Global markets advance, foreigners power SET

RECAP: Global markets advanced as investors believe inflation might be starting to ease in many countries, but they were awaiting further signals yesterday from US Federal Reserve chairman Jerome Powell about how aggressively he will raise interest rates.

The SET continues to benefit from buying by foreign investors, who are confident that the Thai economy will recover in the second half of the year. The SET Index moved in a range of 1,609.81 and 1,650.71 points this week before closing yesterday at 1,644.78, up 1.2% from the previous week, in daily turnover averaging 72.25 billion baht.

Foreign investors were net buyers of 10.02 billion baht and brokers bought 820.89 million. Retail investors were net sellers of 6.26 billion and local institutional investors sold 4.58 billion…