SET rides Asian rebound as bank worries ease

RECAP: Asian equities advanced yesterday after a rescue package for First Republic Bank fuelled a rebound in US shares. Even so, the MSCI gauge of Asian shares recorded a second weekly loss after the recent turbulence in the global banking sector.

Next week, all eyes will be on the US Federal Reserve to see whether it will continue raising interest rates at its meeting that ends on Wednesday, in light of the problems facing the banking sector in the US and Europe.

On the domestic front, investors are awaiting the formal announcement of House dissolution, after Prime Minister Prayut Chan-o-cha said yesterday that he had submitted the decree for royal endorsement. That would pave the way for an election in May.

Thai shares moved in a range of 1,518.66 and 1,602.65 points this week before closing yesterday at 1,563.67, down 2.2% from the previous week, with averaged…