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Friday, May 3, 2024

Stocks recover after Fed calms inflation jitters

Recap: Global and emerging markets gained on Friday after the Federal Reserve confirmed it would not raise interest rates until it sees inflation above its target for a certain time. Shares had slumped earlier on fears of tightening monetary policy after the US in April recorded its highest growth in inflation in nearly 12 years.

The SET index moved in a wide range of 1,501.02 and 1,596.8 points this week before closing yesterday at 1,549.48, down 2.24% from the previous week, in heavy daily turnover averaging 114.49 billion baht.

Retail investors were net buyers of 24.22 billion baht. Foreign investors were net sellers of 13.23 billion, institutional investors sold 8.57 billion and brokerage firms offloaded 2.42 billion baht worth of shares.

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