Thai Stock Market May Run Out Of Steam On Monday

RTTNews | 1054 วันที่ผ่านมา
Thai Stock Market May Run Out Of Steam On Monday

(RTTNews) - The Thai stock market has moved higher in three straight sessions, collecting almost 20 points or 1.2 percent along the way. The Stock Exchange of Thailand now rests just above the 1,550-point plateau although investors may lock in gains on Monday.

The global forecast for the Asian markets is soft ahead of this week's FOMC rate decision, while disappointing earnings news may weigh on tech sectors. The European markets were slightly higher and the U.S. bourses were down and the Asian markets figure to follow the latter lead.

The SET finished modestly higher on Friday following mixed performances from the financial shares and the energy producers.

For the day, the index added 6.42 points or 0.42 percent to finish at 1,552.73 after trading between 1,541.97 and 1,556.26. Volume was 19.221 billion shares worth 57.726 billion baht. There were 780 gainers and 757 decliners, with 581 stocks finishing unchanged.

Among the actives, Thailand Airport added 0.72 percent, while Asset World climbed 1.21 percent, Banpu advanced 0.78 percent, Bangkok Bank collected 0.77 percent, Bangkok Dusit Medical improved 0.93 percent, Bangkok Expressway gathered 1.16 percent, B. Grimm strengthened 1.35 percent, CP All Public rose 0.41 percent, Charoen Pokphand Foods increased 1.00 percent, IRPC shed 0.62 percent, Kasikornbank fell 0.36 percent, Krung Thai Bank soared 3.33 percent, Krung Thai Card spiked 2.75 percent, PTT Oil & Retail jumped 1.98 percent, PTT perked 0.73 percent, PTT Exploration and Production rallied 0.95 percent, PTT Global Chemical lost 0.56 percent, SCG Packaging was up 0.47 percent, Siam Commercial Bank surged 3.19 percent, Siam Concrete accelerated 0.81 percent, Thai Oil sank 0.50 percent, True Corporation plummeted 6.20 percent, TTB Bank dropped 0.95 percent and Advanced Info, BTS Group, Energy Absolute and Gulf were unchanged.

The lead from Wall Street is negative as the major averages were unable to held early gains on Friday, quickly slipping into the red and finishing near session lows.

The Dow shed 137.61 points or 0.43 percent to finish at 31,899.29, while the NASDAQ tumbled 225.50 points or 1.87 percent to end at 11,834.11 and the S&P 500 slumped 37.32 points or 0.93 percent to close at 3,961.63.

For the week, the NASDAQ spiked 3.3 percent, the S&P jumped 2.5 percent and the Dow climbed 2.0 percent.

The pullback on Wall Street also came as traders looked ahead to this week's highly anticipated monetary policy decision by the Federal Reserve. The Fed is widely expected to raise interest rates by at least 75 basis points as part of its ongoing efforts to combat elevated inflation.

A steep drop by shares of Snap Inc. (SNAP) weighed on the tech-heavy NASDAQ after the company reported disappointing second quarter results and declined to provide guidance. Social media giant Twitter (TWTR) also reported second quarter results that missed estimates.

Crude oil futures settled sharply lower on Friday as prices fell on concerns about the outlook for energy demand. West Texas Intermediate Crude oil futures for September ended lower by $1.65 or 1.7 percent at $94.70 a barrel.

Closer to home, Thailand will provide June data for imports, exports and trade balance later today. Imports are expected to jump 20.6 percent on year, slowing from 24.1 percent in May. Exports are called higher by an annual 8.5 percent, down from 10.5 percent in the previous month. The trade deficit if pegged at $1.53 billion following the $1.87 billion shortfall a month earlier.

read more
Canadian Dollar Higher Amid Rising Oil Prices

Canadian Dollar Higher Amid Rising Oil Prices

The Canadian dollar advanced against its most major counterparts in the New York session on Friday amid a spike in oil prices after Israel launched fresh wave of attacks on Iran.
RTTNews | 1 ชม. 11 นาทีที่ผ่านมา
Swiss Stock Market Heads South On Friday

Swiss Stock Market Heads South On Friday

The Swiss stock market turned lower again on Friday, one day after snapping the two-day slide in which it had given up more than 50 points or 0.4 percent.
RTTNews | 3 ชม. 9 นาทีที่ผ่านมา
European Markets Slide On Middle East Concerns

European Markets Slide On Middle East Concerns

The major European markets slumped on Friday as heightened Middle East tensions offset encouraging inflation data from Germany and France.
RTTNews | 3 ชม. 18 นาทีที่ผ่านมา
U.S. Consumer Sentiment Improves Much More Than Expected In June

U.S. Consumer Sentiment Improves Much More Than Expected In June

Preliminary data released by the University of Michigan on Friday showed a substantial improvement by consumer sentiment in the U.S. in the month of June. The University of Michigan said its consumer sentiment index surged to 60.5 in June after holding at 52.2 in May. Economists had expected the index to rise to 53.5.
RTTNews | 6 ชม. 37 นาทีที่ผ่านมา
CPSC Recalls: 1.2 Mln Anker Power Banks, Hedge Trimmers, High Chairs, Mattresses, Pool Covers

CPSC Recalls: 1.2 Mln Anker Power Banks, Hedge Trimmers, High Chairs, Mattresses, Pool Covers

The U.S. Consumer Product safety Commission or CPSC has announced various recalls including around 1.2 million Anker Power Banks, as well as hedge trimmers, high chairs, mattresses, pool covers and Skywalker Pro Via Ferrata Sets. China- based Anker Innovations Limited has called back about 1.16 million units of power banks citing fire and burn risks, and TTI Outdoor Power Equipment recalled...
RTTNews | 7 ชม. 0 นาทีที่ผ่านมา
FTSE 100 Falls Amidst Israel-Iran Conflict

FTSE 100 Falls Amidst Israel-Iran Conflict

Renewed geopolitical tensions from the Israel-Iran conflict weighed on sentiment for the FTSE 100 benchmark as it shed more than a quarter percent in Friday's trade.
RTTNews | 8 ชม. 51 นาทีที่ผ่านมา
Eurozone Trade Surplus Declines To 3-Month Low

Eurozone Trade Surplus Declines To 3-Month Low

Eurozone trade surplus declined to a three month low in April as demand from the US softened following tariff hikes, official data revealed on Friday. The trade surplus declined to EUR 9.9 billion in April from EUR 37.3 billion in March, Eurostat reported. This was the lowest surplus since January. In the same period last year, the surplus totalled EUR 13.6 billion.
RTTNews | 9 ชม. 6 นาทีที่ผ่านมา
Geopolitical Tensions Drag Down CAC 40

Geopolitical Tensions Drag Down CAC 40

An escalation in geopolitical tensions in the Middle East triggered by the Israel-Iran conflict weighed on market sentiment dragging down the CAC 40. Concerns about the trade dispute between the U.S. also weighed on sentiment.
RTTNews | 9 ชม. 47 นาทีที่ผ่านมา