RECAP: Asian shares jumped yesterday as slowing US inflation and an easing of some Chinese Covid quarantine rules triggered a relief rally. The MSCI Asia Pacific Index climbed as much as 3.5%, on track for its best weekly gain since April 2020.
Thai stocks rode the bullish trend with the SET Index testing 1,640 points. With US bond yields down by about 30 basis points from the previous day, fund inflows into all assets were brisk.
So far, the third-quarter earnings season locally has been in line with expectations. Reopening and domestic plays with a medium- to high-end customer base are still healthy. SET president Pakorn Peetathawatchai is optimistic that Thai listed firms, especially economic recovery-related businesses as well as the tourism industry, will attract foreign funds to continue flowing into the market for the rest of the year.
