Thai Stock Market Expected To Open In The Green

RTTNews | 1044 days ago
Thai Stock Market Expected To Open In The Green

(RTTNews) - The Thai stock market on Friday wrote a finish to the two-day slide in which it had slipped more than 15 points or 1 percent. The Stock Exchange of Thailand now sits just beneath the 1,570-point plateau and it's expected to see additional support on Monday.

The global forecast for the oversold Asian markets is broadly positive, with the oil, technology and financial sectors expected to lead the way higher. The European and U.S. markets were up and the Asian bourses are expected to open in similar fashion.

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

For the day, the index advanced 11.15 points or 0.72 percent to finish at 1,568.76 after trading between 1,559.74 and 1,570.62. Volume was 17.720 billion shares worth 65.946 billion baht. There were 799 gainers and 756 decliners, with 598 stocks finishing unchanged.

Among the actives, Advanced Info rallied 2.54 percent, while Thailand Airport improved 1.09 percent, Banpu retreated 1.61 percent, Bangkok Dusit Medical advanced 0.81 percent, Bangkok Expressway added 0.57 percent, B. Grimm spiked 2.10 percent, BTS Group gained 0.60 percent, CP All Public rose 0.42 percent, Charoen Pokphand Foods dropped 0.95 percent, Energy Absolute increased 0.91 percent, Gulf climbed 1.07 percent, Kasikornbank collected 0.34 percent, PTT Oil & Retail gathered 0.97 percent, PTT Exploration and Production fell 0.32 percent, SCG Packaging soared 2.33 percent, Siam Commercial Bank jumped 1.96 percent, Siam Concrete surged 3.55 percent, Thai Oil slumped 1.00 percent, True Corporation perked 0.42 percent and TTB Bank, Asset World, Bangkok Bank, IRPC, Krung Thai Bank, Krung Thai Card, PTT and PTT Global Chemical were unchanged.

The lead from Wall Street is upbeat as the major averages opened sharply higher on Friday and remained that way throughout the trading day.

The Dow surged 823.28 points or 2.68 percent to finish at 31,500.68, while the NASDAQ rallied 375.42 points or 3.34 percent to end at 11,607.62 and the S&P 500 jumped 116.01 points or 3.06 percent to close at 3,911.74.

For the holiday-shortened week, the NASDAQ soared by 7.5 percent, while the S&P 500 and the Dow spiked by 6.4 percent and 5.4 percent, respectively.

Traders continue to express concerns about inflation, interest rates and a potential recession but may feel to sell-off earlier this month was overdone.

On the U.S. economic front, the Commerce Department unexpectedly reported a significant rebound in new home sales in May. Also, the University of Michigan said consumer sentiment in the U.S. tumbled more than expected in June.

Crude oil prices rose sharply on Friday on optimism for continued high demand for energy and tight supply. West Texas Intermediate Crude oil futures for August ended higher by $3.35 or 3.2 percent at $107.62 a barrel. WTI futures shed 1.8 percent in the week.

read more
Continued Consolidation Called For Taiwan Stock Market

Continued Consolidation Called For Taiwan Stock Market

The Taiwan stock market on Monday snapped the five-day winning streak in which it had surged more than 1,300 points or 6.4 percent. The Taiwan Stock Exchange now sits just above the 20,530-point plateau and it may take further damage on Tuesday.
RTTNews | 38 minutes ago
Rally May Stall For Singapore Stock Market

Rally May Stall For Singapore Stock Market

The Singapore stock market has moved higher in three straight sessions, advancing almost 50 points or 1.3 percent along the way. The Straits Times Index now sits just above the 3,850-point plateau although it may run out of steam on Tuesday.
RTTNews | 1h 8min ago
Malaysia Bourse May Extend Monday's Losses

Malaysia Bourse May Extend Monday's Losses

The Malaysia stock market on Monday snapped the two-day winning streak in which it had collected more than 25 points or 1.6 percent. The Kuala Lumpur Composite Index now sits just beneath the 1,540-point plateau and the losses may accelerate on Tuesday.
RTTNews | 1h 38min ago
Pound Weakens In Cautious Trade

Pound Weakens In Cautious Trade

The pound dropped against its most major counterparts in the New York session on Monday amid renewed trade concerns, as President Donald Trump announced plans to impose a 100 percent tariff on movies produced in foreign countries.
RTTNews | 6h 24min ago
Swiss Market Ends Marginally Down After Choppy Session

Swiss Market Ends Marginally Down After Choppy Session

Despite staying positive for much of the day's trading session, the Switzerland market closed slightly weak on Monday with a few stocks turning weak past mid afternoon, as investors turned cautious amid a lack of prominent triggers.
RTTNews | 7h 6min ago
European Stocks Closed Mixed After Cautious Session

European Stocks Closed Mixed After Cautious Session

European stocks turned in a mixed performance on Monday with investors closely following developments on the trade front, and continuing to react to quarterly earnings updates from big name European companies.
RTTNews | 7h 30min ago
Canadian Stocks Largely Subdued In Cautious Trade

Canadian Stocks Largely Subdued In Cautious Trade

After a slightly weak start and a subsequent drop to lower levels, the Canadian market recovered some lost ground Monday morning, but still struggles to move any significantly above the flat line.
RTTNews | 8h 0min ago