The Thai stock market on Wednesday ended the five-day winning streak in which it had advanced more than 25 points or 1.6 percent. The Stock Exchange of Thailand now rests just shy of the 1,590-point plateau and it may tick lower again on Thursday.
The global forecast for the Asian markets is mixed to higher, with support from technology stocks likely offset by weakness from oil companies. The European markets were down and the U.S. bourses were mixed and the Asian markets figure to follow the latter lead.
The SET finished slightly lower on Wednesday following mixed performances from the financial shares and the energy producers.
For the day, the index eased 2.32 points or 0.15 percent to finish at 1,587.21 after trading between 1,585.58 and 1,593.93. Volume was 25.757 billion shares worth 72.418 billion baht. There were 967 decliners and 472 gainers, with 561 stocks finishing unchanged.
Among the actives, Advanced Info rose 0.29 percent, while Asset World dropped 0.97 percent, Bangkok Dusit Medical added 0.47 percent, BTS Group shed 0.52 percent, Gulf jumped 1.52 percent, Kasikornbank skidded 1.36 percent, PTT Oil & Retail sank 0.77 percent, PTT gained 0.61 percent, PTT Global Chemical lost 0.40 percent, SCG Packaging fell 0.53 percent, Siam Commercial Bank retreated 0.89 percent, Siam Concrete declined 0.75 percent, TMB Bank collected 0.82 percent and Thailand Airport, Bangkok Asset Management, Bangkok Bank, Bangkok Expressway, Charoen Pokphand Foods, Krung Thai Bank and PTT Exploration and Production all were unchanged.
The lead from Wall Street is conflicted as the major averages opened higher on Wednesday, although the Dow fell under pressure as the day progressed and finished in the red.
The Dow dipped 85.41 points or 0.26 percent to finish at 32,981.55, while the NASDAQ surged 201.48 points or 1.54 percent to end at 13,246.87 and the S&P 500 rose 14.34 points or 0.36 percent to close at 3,972.89.
The rally by technology stocks reflected window dressing on the final day of the first quarter as the tech-heavy NASDAQ underperformed the Dow and the S&P. The NASDAQ rose 2.8 percent in Q1, while the Dow jumped 5.8 percent and the S&P spiked 7.8 percent.
A report from payroll processor ADP showing strong private sector job growth in March also generated some positive sentiment. ADP said private sector employment surged up by 517,000 jobs in March after climbing by an upwardly revised 176,000 jobs in February.
Crude oil prices moved sharply lower Wednesday amid concerns about the outlook for energy demand. West Texas Intermediate Crude oil futures for May ended down $1.39 or 2.3 percent at $59.16 a barrel.
Market Analysis
Thai Shares May Remain Stuck In Neutral On Thursday
2021-04-01 02:30:18
