Thailand Recorder

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Market

Short-term correction and consolidation ahead

Published by
The Bangkok Post

The SET began the week by moving sideways up to hit the 1,640 resistance and continued to trade sideways for most of the week. Gains were led by blue chips that were the targets of foreign players amid rising inflows. Foreign investors have piled up over 100 billion baht in long positions on the Thailand Futures Exchange (TFEX) so far in August. Meanwhile, second-quarter earnings of listed firms grew 26% year-on-year and 14% quarter-on-quarter, beating market expectations by 6.9 percentage points amid pent-up demand from the reopening of the economy and hefty gains in crude oil price during th…

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