Positive trade in Europe drove Thai stocks back into green territory on Tuesday, despite pressures from lingering recession fears of the impact of a rapid Fed rate hike, a prolonged Russia-Ukraine war, and China’s Zero-COVID policy.
As of 15.53 hrs. local time in Thailand, the SET Index rose 11.71 points, or 0.73% to 1,616.20 points, with a total trading value of THB65,173 million.
European stocks opened higher on Tuesday as global markets looked to rebound following a broad sell-off in recent days, sparked mostly by concerns over inflation and increasing interest rates, as well as the prospect of a global recession.
The pan-European Stoxx 600 rose 0.9% in early trading, with construction and material stocks gaining 2.3% to lead advances as most sectors and major exchanges entered positive territory. Meanwhile, healthcare stocks fell 0.5%.