Thai equities rallied on Wednesday after progress in peace talks between Russia and Ukraine raised hopes for a resolution and the Finance Ministry's decision to postpone imposing a transaction tax on individual stock investors boosted investor morale.
Thai listed companies recorded a nearly 80% rise in net profit to 986 billion baht in 2021, as rising oil and commodity prices supported related businesses and the government's easing of pandemic restrictions spurred economic recovery.
The Russian invasion of Ukraine is sending economic shockwaves around the globe with crude oil prices at one point reaching US$130 per barrel, hitting businesses already reeling from tepid consumption caused by the Covid-19 pandemic.
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