The SET index climbed to the key resistance at 1,570 points early this week before consolidating to build a new base at around 1,550+. Early gains were driven by short-covering in blue chips by investors unwinding positions.
The release on Wednesday of data showing slowing US inflation — at 4%, down from 4.9% in the previous month and just below market expectations of 4.1% — ignited rebounds in local stocks that had suffered from steep increases in production costs such as SCGP, CBG and ITC.
On Thursday, the US Federal Reserve decided to keep interest rates unchanged as expected, as it wants to monitor the impact on prices of its rate hikes…
