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Wednesday, March 22, 2023

No impact on Thailand so far from US banking woes

Destroyed SVB (Silicon Valley Bank) logo is seen in this illustration taken on Monday. (Photo: Reuters)

Recent problems facing some banks in the United States had no impact on Thailand so far, Finance Minister Arkhom Termpittayapaisith told reporters on Wednesday.

The government, however, was ready to take action should global volatility affect the Southeast Asian country’s economy or financial system, Mr Arkhom said.

The Stock Exchange of Thailand (SET) main index rebounded 37.98 points or 2.49% to close at 1,561.97 at the end of trading session on Wednesday morning. The trade value was 39.57 billion baht.

On Tuesday, the SET Index closed at 1,523.99, down 49.18 points or -3.13%, in trade worth 103.8 billion baht.

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