Asian stocks point to Wall Street's rise

Asian stocks follow Wall Street higher

PUBLISHED: October 28, 2023 at 09:11

Asian stocks follow Wall Street futures higher on Friday as Amazon.com delivered expected earnings relief and Treasury yields declined on lower inflation, underscoring expectations of the end of U.S. interest rate hikes.

Thai stocks ranged between 1,366.19 and 1,414.13 points this week before closing Friday at 1,388.23, down 0.8 percent from the previous week, with daily turnover averaging 43.88 billion baht.

Institutional investors were net buyers at 3.09 billion baht, followed by retail investors at 1.78 billion baht. Foreign investors became''net sellers at 3.93 billion baht, followed by brokers at 944.50 million baht.

NEWS:

The U.S. economy grew 4.9 percent year-on-year in the third quarter, the strongest since late 2021, as a strong labor market and lower inflation gave consumers confidence to spend money.

OST:

On Monday, the U.S. will release its industrial production index for October. The Bank of Japan will conduct its monetary policy on Monday and Tuesday.