Lower Open Predicted For Thai Stock Market

RTTNews | 7 दिनों पहले
Lower Open Predicted For Thai Stock Market

(RTTNews) - The Thai stock market has finished lower in two of three trading days since the end of the four-day winning streak in which it had surged almost 50 points or 4.1 percent. The Stock Exchange of Thailand now sits just above the 1,265-point plateau and it figures to remain rangebound again on Friday.

The global forecast for the Asian markets suggests little movement ahead of the meeting between the U.S. and Russian presidents later today to discuss ways to end the Russia-Ukraine war. The European markets were up and the U.S. bourses were mixed and flat and the Asian markets figure to follow the latter lead.

The SET finished modestly lower on Thursday following losses from the consumer, finance, industrial, resource, service and technology sectors.

For the day, the index lost 10.76 points or 0.84 percent to finish at 1,266.67 after trading between 1,266.05 and 1,283.55. Volume was 10.108 billion shares worth 56.938 billion baht. There were 402 decliners and 127 gainers, with 123 stocks finishing unchanged.

Among the actives, Advanced Info slipped 0.33 percent, while Thailand Airport was down 3.75 percent, Asset World surged 6.25 percent, Banpu declined 1.63 percent, Bangkok Bank dropped 0.97 percent, Bangkok Dusit Medical weakened 5.24 percent, Bangkok Expressway advanced 0.92 percent, B. Grimm contracted 1.72 percent, BTS Group dipped 1.15 percent, CP All Public added 0.54 percent, Charoen Pokphand Foods rallied 2.54 percent, Energy Absolute crashed 6.43 percent, Gulf lost 1.04 percent, Krung Thai Bank retreated 1.23 percent, Krung Thai Card tumbled 1.68 percent, PTT Oil & Retail soared 3.85 percent, PTT fell 0.77 percent, PTT Exploration and Production stumbled 2.12 percent, PTT Global Chemical plummeted 4.17 percent, SCG Packaging plunged 3.35 percent, Siam Commercial Bank slumped 1.14 percent, Siam Concrete sank 0.98 percent, Thai Oil cratered 5.84 percent, True Corporation shed 0.93 percent, TTB Bank skidded 1.03 percent and Kasikornbank was unchanged.

The lead from Wall Street offers little guidance as the major averages opened lower on Thursday and spent most of the day in the red before finally ending mixed and little changed.

The Dow shed 11.01 points or 0.02 percent to finish at 44,911.26, while the NASDAQ dipped 2.47 points or 0.01 percent to close at 21,710.67 and the S&P 500 rose 1.96 points or 0.03 percent to end at a record 6,468.54.

The early weakness on Wall Street followed the release of a Labor Department report showing producer prices in the U.S. increased by much more than expected in the month of July.

The hotter-than-expected producer price inflation data partly offset optimism about a September interest rate cut generated by the consumer price inflation data released earlier this week.

However, CME Group's FedWatch Tool is currently still indicating a 92.6 percent chance the Federal Reserve will lower rates by a quarter point next month, which helped keep selling pressure relatively subdued.

Crude oil jumped on Thursday ahead of a crucial meeting between the U.S. and Russian presidents later today in Alaska to discuss ways to end the Russia-Ukraine war. West Texas Intermediate crude for September delivery was up $1.32 or 2.11 percent at $63.97 per barrel.

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