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.
