Thai Shares May Take Further Damage On Tuesday

(RTTNews) - The Thai stock market has finished lower in three straight sessions, slipping more than 35 points or 3 percent along the way. The Stock Exchange of Thailand now sits just above the 1,240-point plateau and it may extend its losses on Tuesday.

The global forecast for the Asian markets is murky as investors wait for developments in the conflict between Russia and Ukraine. The European and U.S. markets were mixed and flat and the Asian bourses figure to follow suit.

The SET finished sharply lower on Monday following losses from the food, consumer, finance, industrial, property, resource, service and technology sectors.

For the day, the index slumped 17.11 points or 1.36 percent to finish at the daily low of 1,242.31 after trading as high as 1,260.23. Volume was 8.300 billion shares worth 39.299 billion baht. There were 310 decliners and 190 gainers, with 148 stocks finishing unchanged.

Among the actives, Advanced Info retreated 1.34 percent, while Thailand Airport plummeted 3.21 percent, Asset World plunged 3.28 percent, Banpu declined 1.26 percent, Bangkok Bank shed 0.65 percent, Bangkok Dusit Medical advanced 0.96 percent, Bangkok Expressway lost 0.92 percent, B. Grimm and PTT Global Chemical both shed 0.88 percent, BTS Group was down 0.59 percent, CP All Public tumbled 1.63 percent, Charoen Pokphand Foods surrendered 2.46 percent, Energy Absolute sank 0.76 percent, Gulf weakened 1.06 percent, Kasikornbank dipped 0.30 percent, Krung Thai Bank dropped 0.82 percent, Krung Thai Card tanked 2.59 percent, PTT Exploration and Production cratered 2.59 percent, SCG Packaging climbed 1.18 percent, Siam Commercial Bank skidded 1.15 percent, Siam Concrete jumped 1.99 percent, Thai Oil stumbled 2.29 percent, TTB Bank slumped 1.03 percent and True Corporation, PTT Oil & Retail and PTT were unchanged.

The lead from Wall Street offers little guidance as the major averages opened mixed but moved little, hugging the line all day and ending on opposite sides.

The Dow shed 34.30 points or 0.08 percent to finish at 44,911.82, while the NASDAQ rose 6.80 points or 0.03 percent to close at 21,629.77 and the S&P 500 eased 0.65 points or 0.01 percent to end at 6,449.15.

The choppy trading on Wall Street came as traders kept an eye on the White House, where President Donald Trump met with Ukrainian President Volodymyr Zelenskyy and other European leaders.

The meetings at the White House come after Trump's meeting with Russian President Vladimir Putin last Friday which failed to result in a concrete agreement to end the conflict in Ukraine.

On the U.S. economic front, the National Association of Home Builders reported a modest deterioration by U.S. homebuilder confidence in the month of August.

Crude oil priced climbed on Monday as investors focused their attention on the meeting between the U.S. and Ukrainian presidents amid rising geopolitical tensions surrounding the Russian invasion of Ukraine. West Texas Intermediate crude for September delivery was up $0.60 or 0.96 percent at $63.40 per barrel.