Thai Stock Market May Turn Lower Again On Friday

RTTNews | 692 days ago
Thai Stock Market May Turn Lower Again On Friday

(RTTNews) - The Thai stock market on Thursday snapped the two-day slide in which it had fallen more than 15 points or 1 percent. The Stock Exchange of Thailand now sits just beneath the 1,530-point plateau although it's likely to see renewed selling pressure on Friday.

The global forecast for the Asian markets remains soft on concerns over the outlook for interest rates. The European and U.S. markets were down and the Asian bourses figure to follow that lead.

The SET finished modestly higher on Thursday following gains from the industrial, technology, food, service and financial shares.

For the day, the index added 9.25 points or 0.61 percent to finish at 1,528.81 after trading between 1,512.08 and 1,531.08. Volume was 14.113 billion shares worth 53.040 billion baht. There were 324 gainers and 145 decliners, with 171 stocks finishing unchanged.

Among the actives, Advanced Info gained 0.45 percent, while Thailand Airport gathered 0.71 percent, Asset World added 0.50 percent, Banpu retreated 1.10 percent, Bangkok Expressway lost 0.56 percent, B. Grimm increased 0.69 percent, BTS Group and PTT both perked 0.70 percent, Charoen Pokphand Foods rallied 1.57 percent, Energy Absolute and Siam Commercial Bank both rose 0.44 percent, Kasikornbank collected 0.79 percent, Krung Thai Bank shed 0.50 percent, Krung Thai Card skidded 1.09 percent, PTT Oil & Retail advanced 0.99 percent, PTT Exploration and Production declined 1.56 percent, PTT Global Chemical spiked 2.05 percent, SCG Packaging improved 1.35 percent, Siam Concrete strengthened 1.28 percent, Thai Oil slumped 1.44 percent, True Corporation jumped 1.50 percent, TTB Bank lost 0.56 percent and Bangkok Bank, Gulf, CP All Public and Bangkok Dusit Medical were unchanged.

The lead from Wall Street is negative as the major averages opened higher on Thursday but quickly turned lower and finished near session lows.

The Dow tumbled 290.91 points or 0.84 percent to finish at 34,474.83, while the NASDAQ slumped 157.70 points or 1.17 percent to close at 13,316.93 and the S&P 500 sank 33.97 points or 0.77 percent to end at 4,370.36.

The weakness on Wall Street came as investors continue to digest Wednesday's Federal Reserve minutes, which suggest the central bank will hold interest rates higher for longer to fight inflation.

In economic news, the Labor Department said first-time claims for U.S. unemployment benefits saw a modest decline last week. Also, the Federal Reserve Bank of Philadelphia said its manufacturing index saw a big jump in August.

Crude oil futures were up on Thursday, snapping a three-session losing streak on news of stimulus measures from China's central bank. West Texas Intermediate Crude oil futures for September climbed $1.01 or 1.3 percent at $80.39 a barrel.

read more
U.S. Jobless Claims Unexpectedly Slip To 227,000

U.S. Jobless Claims Unexpectedly Slip To 227,000

First-time claims for U.S. unemployment benefits unexpectedly edged modestly lower in the week ended July 5th, according to a report released by the Labor Department on Thursday.
RTTNews | 1h 55min ago
U.S. Weekly Jobless Claims Unexpectedly Edge Lower

U.S. Weekly Jobless Claims Unexpectedly Edge Lower

First-time claims for U.S. unemployment benefits unexpectedly edged modestly lower in the week ended July 5th, according to a report released by the Labor Department on Thursday.
RTTNews | 3h 8min ago
Bay Street Seen Opening On Mixed Note

Bay Street Seen Opening On Mixed Note

Canadian shares may open on a slightly mixed note on Thursday tracking the trend in the commodity markets, and somewhat firm European stocks. The focus, once again, will be on trade negotiations between the U.S. and several other major nations.
RTTNews | 3h 11min ago
FTSE 100 Rises To Record High As Mining Stocks Rally

FTSE 100 Rises To Record High As Mining Stocks Rally

The UK stock market climbed to a new record high Thursday morning, lifted by strong gains in the mining sector. The undertone in major European markets is quite firm today amid optimism about a potential trade deal between the U.S. and the European Union.
RTTNews | 4h 20min ago
CAC 40 Moderately Higher On Trade Deal Hopes

CAC 40 Moderately Higher On Trade Deal Hopes

French stocks are gaining some ground in positive territory on Thursday amid rising hopes the European Union will strike a trade deal with the U.S. sometime soon.
RTTNews | 4h 54min ago
DAX Modestly Up After Hitting Fresh Record High

DAX Modestly Up After Hitting Fresh Record High

German stocks are up in positive territory on Thursday, extending gains from the previous three sessions, as investors continue to focus on US-EU trade negotiations. Data showing a drop in Germany's consumer price inflation in the month of June is aiding sentiment.
RTTNews | 5h 15min ago
Commodity Currencies Rise Amid Renewed Tariff Concerns; USD Slide

Commodity Currencies Rise Amid Renewed Tariff Concerns; USD Slide

The commodity currencies such as Australia, the New Zealand and the Canadian dollars strengthened against their major counterparts in the early European session on Thursday, as traders are optimistic about an end to the tariff uncertainty after U.S. President Donald Trump made it clear that he will not extend the August 1 deadline for trade deals, though he gets aggressive with tariff imposition. They are also optimistic about a potential trade deal between the U.S. and the European Union.
RTTNews | 6h 9min ago