RECAP: Asian markets sold off sharply on Friday and Europe followed as investors braced for a hefty US rate hike next week amid growing concerns of a global recession following warnings from the World Bank and the International Monetary Fund.
On the domestic front, the baht slipped below 37 to the US dollar -- its lowest since late 2006. The SET extended its sideways-down movement to close at 1,630 points. Investors are growing more anxious about a possible recession and bracing for another big interest-rate increase by the US Federal Reserve this week.
Thailand's positive economic outlook should help the SET to outperform global peers, however, with analysts expecting continued fund inflows in the medium term. Domestic and reopening plays, particularly ones with unique catalysts, should continue to outperform the market.
