The SET index lost about 10 points in the afternoon trading, tracking global trends, as investors fretted over the cloudy economic outlook for the world’s major economies.
As of 14.46 hr. Thai time, the SET Index dropped 9.83 points, or 0.60%, to 1,626.24, with a trading value of THB43,668 million.
Fears of a recession prompted a decline in European equities, which was mirrored in the Thai stock market. Fears that a tighter monetary policy, inflationary pressures, and an energy crisis could push the global economy into a recession triggered European stocks to fall on Friday and put them up for a weeklong loss.
As of 14:21 Thai time, the pan-European STOXX 600 index has fallen by 0.3%, with travel stocks leading the way down.
The United States and South Korea are poised to resume large-scale joint military exercises for the first time in four years next week, as North Korea continues to ramp up nuclear tests.
