Thai Stock Market Tipped To End Losing Streak

RTTNews | 883 days ago
Thai Stock Market Tipped To End Losing Streak

(RTTNews) - The Thai stock market has finished lower in two straight sessions, slipping almost 8 points or 0.5 percent along the way. The Stock Exchange of Thailand now rests just above the 1,680-point plateau although it may stop the bleeding on Wednesday.

The global forecast for the Asian markets is upbeat on increasing optimism over the outlook for interest rates. The European markets were mixed and flat and the U.S. bourses were solidly higher and the Asian markets figure to split the difference.

The SET finished slightly lower on Tuesday following losses from the financial shares and a mixed picture from the energy producers.

For the day, the index eased 1.62 points or 0.10 percent to finish at 1,680.49 after trading between 1,676.14 and 1,689.51. Volume was 20.208 billion hares worth 61.477 billion baht. There were 1,010 decliners and 491 gainers, with 522 stocks finishing unchanged.

Among the actives, Advanced Info eased 0.25 percent, while Thailand Airport fell 0.34 percent, Banpu dropped 0.88 percent, Bangkok Bank dipped 0.31 percent, Bangkok Dusit Medical slumped 0.84 percent, Bangkok Expressway stumbled 1.54 percent, B. Grimm soared 2.52 percent, BTS Group was down 0.60 percent, Energy Absolute jumped 1.97 percent, Kasikornbank slid 0.35 percent, Krung Thai Bank skidded 1.15 percent, Krung Thai Card declined 1.28 percent, PTT sank 0.76 percent, PTT Exploration and Production added 0.61 percent, PTT Global Chemical improved 0.51 percent, Siam Commercial Bank lost 0.48 percent, Siam Concrete gained 0.60 percent, TTB Bank tanked 2.07 percent and CP All Public, Charoen Pokphand Foods and SCG Packaging were unchanged.

The lead from Wall Street is broadly positive as the major averages shook off flat morning trade on Tuesday, rallying in the afternoon.

The Dow jumped265.67 points or 0.78 percent to finish at 34,156.69, while the NASDAQ surged 226.34 points or 1.90 percent to end at 12,113.79 and the S&P 500 advanced 52.92 points or 1.29 percent to close at 4,164.00.

The late rally on Wall Street came in reaction to Federal Reserve Chair Jerome Powell's remarks at the Economic Club of Washington. In a Q&A session, Powell said he expects 2023 to be a year of "significant declines in inflation."

Powell said inflation is beginning to ease, though he expects it to be a long process and cautioned that interest rates could rise more than markets expect if the economic data doesn't cooperate.

Oil prices advanced Tuesday on expectations of higher energy demand from China, and on supply concerns following a massive earthquake in Turkey on Monday. West Texas Intermediate Crude oil futures for March ended higher by $3.02 or 4.1 percent at $77.14 a barrel, the highest close since January 31.

read more
Swiss Market Ends On Firm Note

Swiss Market Ends On Firm Note

Swiss stocks turned in a fine performance on Thursday, in line with most of the markets across Europe, amid optimism about a U.S.-EU trade deal materialising sometime soon.
RTTNews | 17 minutes ago
European Stocks Close Broadly Higher On Trade Deal Hopes

European Stocks Close Broadly Higher On Trade Deal Hopes

European stocks closed on a positive note on Thursday with the undertone remaining firm amid expectations the European Union and the U.S. will strike a trade deal soon. Investors also looked ahead to the earnings season that is set to start next week.
RTTNews | 35 minutes ago
Canadian Market Modestly Higher At Noon

Canadian Market Modestly Higher At Noon

After a flat start and a subsequent drop into negative territory, the Canadian market climbed higher Thursday morning and remained firmly well placed in positive territory at noon. The mood remains somewhat cautious amid concerns about tariffs following U.S. President Donald Trump confirming a 50% levy on copper imports, and hinting at additional tariffs on semiconductors and pharmaceuticals.
RTTNews | 1h 56min ago
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 | 4h 13min 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 | 5h 26min 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 | 5h 29min 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 | 6h 38min 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 | 7h 13min ago