Thai Stock Market Tipped To Extend Wednesday's Losses

RTTNews | il y a 1029
Thai Stock Market Tipped To Extend Wednesday's Losses

(RTTNews) - The Thai stock market on Wednesday wrote a finish to the four-day winning streak in which it had climbed almost 30 points or 1.9 percent. The Stock Exchange of Thailand now rests just above the 1,625-point plateau and the losses may accelerate on Thursday.

The global forecast for the Asian markets suggests consolidation on concerns about the outlook for interest rates following the FOMC's rate decision. The European and U.S. markets were sharply lower and the Asian markets are expected to open in similar fashion.

The SET finished barely lower on Wednesday following mixed performances from the financial shares and the energy producers.

For the day, the index eased 0.71 points or 0.04 percent to finish at 1,625.02 after trading between 1,622.30 and 1,630.56. Volume was 18.442 billion shares worth 66.483 billion baht. There were 1,001 decliners and 541 gainers, with 650 stocks finishing unchanged.

Among the actives, Advanced Info shed 0.52 percent, while Thailand Airport added 0.67 percent, Banpu sank 0.79 percent, Bangkok Bank fell 0.34 percent, Bangkok Dusit Medical and PTT Global Chemical both jumped 1.69 percent, Bangkok Expressway strengthened 1.62 percent, B Grimm lost 0.72 percent, CP All Public advanced 0.83 percent, Charoen Pokphand Foods dropped 0.98 percent, Energy Absolute rose 0.26 percent, Gulf increased 0.49 percent, IRPC gained 0.63 percent, Kasikornbank collected 0.34 percent, PTT Exploration and Production slipped 0.27 percent, SCG Packaging surged 3.27 percent, Thai Oil improved 0.45 percent, True Corporation was up 0.40 percent and TMB Bank, Asset World, BTS Group, Krung Thai Bank, Krung Thai Card, PTT Oil & Retail, PTT, Siam Commercial Bank and Siam Concrete were unchanged.

The lead from Wall Street is broadly negative as the major averages hugged the line for most of Wednesday's session but turned sharply lower after the FOMC decision.

The Dow plunged 505.44 points or 1.55 percent to finish at 32,147.76, while the NASDAQ tumbled 366.05 points or 3.36 percent to close at 10,524.80 and the S&P 500 slumped 96.41 points or 2.50 percent to end at 3,759.69.

The late-day volatility came after the Fed announced its widely expected decision to raise interest rates by another 75 basis points in an effort to rein in inflation.

The Fed noted that future rate hikes will "take into account the cumulative tightening of monetary policy, the lags with which monetary policy affects economic activity and inflation, and economic and financial developments."

But comments from Fed Chair Jerome Powell tamped down optimism about the outlook for interest rates: "It is very premature, in my view, to think about or be talking about pausing our rate hikes. We have a ways to go."

Crude oil prices climbed higher on Wednesday after data showed declines in crude and gasoline stockpiles in the U.S. last week. West Texas Intermediate Crude oil futures for December climbed $1.63 or 1.8 percent at $90.00 a barrel.

read more
European Shares Seen Higher At Open

European Shares Seen Higher At Open

European stocks are seen opening broadly higher on Thursday even as Nvidia's disappointing sales forecast raised concerns about the AI spending boom.
RTTNews | il y a 1h 36min
Sensex Nifty Decline On Tariff Worries

Sensex Nifty Decline On Tariff Worries

Indian shares opened on a sluggish note on Thursday after U.S. President Donald Trump's 50 percent tariffs on Indian goods came into effect, impacting trade worth billions of dollars and risking Washington-New Delhi ties.
RTTNews | il y a 2h 28min
European Economic News Preview: Eurozone Economic Sentiment Data Due

European Economic News Preview: Eurozone Economic Sentiment Data Due

Economic confidence and monetary aggregates from the euro area and flash GDP from Switzerland are the top economic news due on Thursday. At 3.00 am ET, the State Secretariat for Economic Affairs is slated to release Swiss GDP data for the second quarter. The economy is expected to grow 0.1 percent sequentially after rising 0.5 percent in the first quarter.
RTTNews | il y a 2h 29min
Australian Market Trims Early Losses In Mid-market

Australian Market Trims Early Losses In Mid-market

The Australian market is trimming early losses in mid-market moves on Thursday, giving up some of the gains in the previous session, despite the broadly positive cues from Wall Street overnight. The benchmark S&P/ASX 200 is falling to near the 8,950 level, with weakness in iron ore miners, energy and technology stocks partially offset by gains in financial stocks.
RTTNews | il y a 3h 55min
Asian Markets Trade Mostly Higher

Asian Markets Trade Mostly Higher

Asian stock markets are mostly higher on Thursday, following the broadly positive cues from Wall Street overnight, as traders remain optimistic the US Fed will cut interest rates at their next meeting in September. They also remain cautious ahead of the release of key US economic data later in the week, including second quarter GDP and the Fed's preferred readings on consumer price inflation.
RTTNews | il y a 4h 10min
Swiss Market Settles Modestly Higher

Swiss Market Settles Modestly Higher

The Switzerland market closed modestly higher on Wednesday after staying firm right through the day's session, thanks to fairly strong buying at several counters. The benchmark SMI closed up by 46.23 points or 0.38% at 12,207.12. The index moved between 12,166.23 and 12,226.36 during the session.
RTTNews | il y a 4h 53min
Japanese Market Notably Higher

Japanese Market Notably Higher

The Japanese market is trading notably higher on Thursday after opening in the red, extending the gains in the previous session, following the broadly positive cues from Wall Street overnight. The Nikkei 225 is moving well above the 42,650 level, with gains in index heavyweights, automakers and financial stocks.
RTTNews | il y a 5h 1min