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Asian stocks and currencies conclude the week positively

Asian stocks and currencies conclude the week positively

Asian stocks and currencies finished the week positively as the prospect of Fed rate cuts boosted market sentiment. Thai equities saw a rebound, driven by energy stocks amid rising oil prices and optimism surrounding second-quarter earnings.

The SET index fluctuated between 1,286.79 and 1,312.75 points before closing at 1,311.99, marking a 0.8% increase from the previous week. Institutional investors and retail investors were net buyers, while foreign investors and brokerage firms were net sellers. Labour’s election win in the UK soothed investor concerns, while Fed comments hinted at a cautious approach to rate cuts.

Notable developments included Jeff Bezos selling shares worth $5 billion, Hyundai and LG opening a battery plant in Indonesia, and strong performance from Tesla and General Motors in the EV sector. China’s manufacturing sector showed resilience, while Japan’s economic indicators presented mixed signals. The Thai market also saw changes, including the introduction of an uptick rule and developments in the EV industry. Overall, the week showcased a dynamic mix of global and local economic news and market movements.

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