The SET staged a big recovery in October from its poor performance the month before, establishing a new support level at 1,600 points. The trading range was between 1,553.80 and 1,619.08 with a close at 1,608.76, up 19.25 points or 1.2% on the month.
In the first half of October, the SET was still pressured by expectations of further interest rate increases by the US Federal Reserve. The prospect of more aggressive Fed moves depressed the investment climate worldwide, pushing the SET down to 1,553.80 at mid-month.
