Thai Stock Market May See A Wild Ride On Monday

RTTNews | vor 690 Tagen
Thai Stock Market May See A Wild Ride On Monday

(RTTNews) - The Thai stock market on Friday wrote a finish to the two-day winning streak in which it had collected more than 5 points or 0.3. The Stock Exchange of Thailand now sits just beneath the 1,440-point plateau and it may see some volatility on Monday.

The global forecast for the Asian markets is murky, with solid market leads offset by the violent conflict between Israel and Hamas that erupted over the weekend. The European and U.S. markets were up and the Asian markets may follow suit.

The SET finished sharply lower on Friday following losses from the food, energy and technology sectors.

For the day, the index dropped 14.10 points or 0.97 percent to finish at 1,438.45 after trading between 1,434.00 and 1,457.81. Volume was 10.872 billion shares worth 40.928 billion baht. There were 304 decliners and 153 gainers, with 193 stocks finishing unchanged.

Among the actives, Advanced Info sank 0.89 percent, while Thailand Airport slumped 0.72 percent, Banpu gained 0.65 percent, Bangkok Bank shed 0.59 percent, Bangkok Dusit Medical tumbled 1.82 percent, Bangkok Expressway slid 0.62 percent, B. Grimm plummeted 3.70 percent, CP All Public fell 0.41 percent, Charoen Pokphand Foods retreated 1.47 percent, Energy Absolute stumbled 1.51 percent, Gulf plunged 4.44 percent, Kasikornbank collected 0.40 percent, Krung Thai Bank climbed 1.05 percent, Krung Thai Card tanked 2.19 percent, PTT Oil & Retail skidded 1.10 percent, PTT lost 0.78 percent, PTT Exploration and Production rose 0.31 percent, SCG Packaging added 0.68 percent, Siam Concrete dropped 0.98 percent, True Corporation declined 1.44 percent and TTB Bank, Siam Commercial Bank, PTT Global Chemical, Asset World, Thai Oil and BTS Group were unchanged.

The lead from Wall Street is upbeat as the major averages shook off early weakness on Friday, quickly moved higher and finished well in the green.

The Dow surged 287.98 points or 0.87 percent to finish at 33,407.58, while the NASDAQ soared 211.54 points or 1.60 percent to end at 13,431.34 and the S&P 500 rallied 50.31 points or 1.18 percent to close at 4,308.50.

For the week, the NASDAQ jumped 1.6 percent, the S&P added 0.5 percent and the Dow dipped 0.3 percent.

The early weakness on Wall Street followed the release of a Labor Department report showing employment in the U.S. surged much more than expected in September.

The report triggered a spike by treasury yields amid renewed concerns about the outlook for interest rates, with yields once again soaring to their highest levels in over 16 years. But treasury yields pulled back as the day progressed, fueling the subsequent rebound on Wall Street.

Crude oil prices climbed higher Friday following recent losses, after data showed stronger than expected growth in U.S. non-farm payroll employment in September. West Texas Intermediate Crude oil futures for November added $0.48 or 0.6 percent at $82.79 a barrel. But WTI crude futures shed 9 percent in the week.

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