Rally May Stall For Thai Stock Market

RTTNews | 1025 days ago
Rally May Stall For Thai Stock Market

(RTTNews) - The Thai stock market has tracked higher in back-to-back sessions, gathering almost 10 points or 0.7 percent along the way. The Stock Exchange of Thailand now rests just beneath the 1,640-point plateau although it may run out of steam on Wednesday.

The global forecast for the Asian markets is negative ahead of the FOMC's rate decision later today. The European and U.S. markets finished firmly in the red and the Asian bourses are expected to open in similar fashion.

The SET finished modestly higher on Tuesday following gains from the financial shares and a mixed performance from the energy producers.

For the day, the index rose 7.02 points or 0.43 percent to finish at 1,638.59 after trading between 1,636.20 and 1,645.15. Volume was 18.336 billion shares worth 65.130 billion baht. There were 863 gainers and 731 decliners, with 612 stocks finishing unchanged.

Among the actives, Thailand Airport rose 0.34 percent, while Asset World dropped 0.84 percent, Banpu advanced 0.75 percent, Bangkok Bank collected 0.37 percent, BTS Group shed 0.57 percent, Charoen Pokphand Foods sank 0.99 percent, Energy Absolute surged 3.41 percent, Gulf retreated 1.38 percent, Kasikornbank added 0.67 percent, Krung Thai Card gathered 0.42 percent, PTT perked 0.68 percent, PTT Exploration and Production gained 0.89 percent, PTT Global Chemical lost 0.56 percent, SCG Packaging increased 0.45 percent, Siam Commercial Bank jumped 1.42 percent, Thai Oil climbed 0.92 percent, True Corporation improved 0.41 percent, Thai Union Group skyrocketed 4.79 percent and TTB Bank, Advanced Info, Bangkok Dusit Medical, Bangkok Expressway, B. Grimm, CP All Public, IRPC Krung Thai Bank, PTT Oil & Retail and Siam Concrete were unchanged.

The lead from Wall Street is soft as the major averages opened in the red on Tuesday and held their negative bias throughout the session.

The Dow plunged 313.45 points or 1.01 percent to finish at 30,706.23, while the NASDAQ sank 109.97 points or 0.95 percent to end at 11,425.05 and the S&P 500 tumbled 43.96 points or 1.13 percent to close at 3,855.93.

The weakness on Wall Street came as traders were jittery ahead of the Federal Reserve's monetary policy decision later today. The Fed is widely expected to raise interest rates by another 75 basis points, although some see an outside chance for a 100-point rate hike.

Treasury yields saw further upside ahead of the Fed announcement, with the yield on the benchmark ten-year note jumping to a new 11-year high.

In economic news, the Commerce Department reported an unexpected spike in new residential construction in the U.S. in August, although the report also showed a steeper than expected slump in building permits.

Crude oil prices fell sharply on Tuesday amid concerns about interest rate hikes and worries about the outlook for energy demand. West Texas Intermediate Crude futures for October ended lower by $1.28 or 1.5 percent at $84.45 a barrel on expiration day.

read more
Swiss Market Ends Sharply Lower

Swiss Market Ends Sharply Lower

The Switzerland market closed weak on Friday, tracking weak global cues after U.S. President Donald Trump's latest tariff moves raised fears of a global trade war.
RTTNews | 1 day ago
European Stocks Close Weak As Trade War Fears Hurt Sentiment

European Stocks Close Weak As Trade War Fears Hurt Sentiment

European stocks closed lower on Friday as trade war fears resurfaced after U.S. President Donald Trump announced a 35% tariff on Canadian goods, effective August 1, 2025, and warned of a blanket tariff of 15-20% on most trading partners.
RTTNews | 1 day ago
Canadian Market Remains Weak On Tariff Concerns

Canadian Market Remains Weak On Tariff Concerns

After a weak start and a subsequent drop to lower levels, the Canadian market continues to languish in negative territory a little past noon on Friday. The mood is cautious amid escalating trade war fears following U.S. President Donald Trump announced a 35% tariff on all non-USMCA Canadian imports, effective August 1.
RTTNews | 1 day ago
Bay Street Likely To Open Lower

Bay Street Likely To Open Lower

Canadian shares look headed for a weak start on Friday due to trade war concerns, although fairly firm crude oil and bullion prices may help limit the market's downside. Data showing an increase in Canadian employment in the month of June and a drop in the unemployment rate may also aid sentiment a bit.
RTTNews | 1 day ago
Pound Falls As U.K. Economy Contracts For Second Straight Month

Pound Falls As U.K. Economy Contracts For Second Straight Month

The British pound weakened against other major currencies in the European session on Friday, as the UK economy shrank for the second consecutive month in May, adding challenges to Chancellor Rachel Reeves in achieving her self-imposed borrowing rules.
RTTNews | 1 day ago
Pound Falls Against Majors

Pound Falls Against Majors

The British pound weakened against other major currencies in the European session on Friday.
RTTNews | 1 day ago