The Thai stock market has alternated between positive and negative finishes through the last four trading days since the end of the three-day slide in which it had dropped almost 40 points or 2.5 percent. The Stock Exchange of Thailand now rests just above the 1,560-point plateau and it’s expected to open in the red again on Thursday.
The global forecast for the Asian markets is negative on growing concerns over rising inflation and the outlook for interest rates. The European and U.S. markets were down and the Asian bourses figure to follow suit.
The SET finished slightly lower on Wednesday following losses from the financial shares and energy producers.
For the day, the index dipped 4.56 points or 0.29 percent to finish at 1,562.24 after trading between 1,557.83 and 1,570.05. Volume was 30.511 billion shares worth 83.533 billion baht. There were 987 decliners and 602 gainers, with 464 stocks finishing unchanged.
Among the actives, Advanced Info dropped 0.88 percent, while Asset World shed 0.42 percent, Bangkok Bank sank 0.86 percent, Bangkok Dusit Medical added 0.48 percent, Bangkok Expressway retreated 1.30 percent, BTS Group tumbled 1.72 percent, Charoen Pokphand Foods lost 0.89 percent, Delta Electronics tanked 2.33 percent, Kasikornbank declined 1.61 percent, Krung Thai Bank skidded 0.92 percent, PTT fell 0.62 percent, PTT Exploration and Production slid 1.24 percent, PTT Global Chemical surrendered 1.50 percent, SCG Packaging advanced 0.88 percent, Siam Commercial Bank gave away 1.48 percent, Siam Concrete was down 1.33 percent, TTB Bank plunged 1.77 percent and Thailand Airport, Bangkok Asset Management, CP All Public, Gulf and PTT Oil & Retail all were unchanged.
The lead from Wall Street is soft as stocks opened firmly in the red on Wednesday, pared some of the losses but still ended in negative territory.
The Dow shed 164.62 points or 0.48 percent to finish at 33,896.04, while the NASDAQ eased 3.90 points or 0.03 percent to end at 13,299.74 and the S&P 500 fell 12.15 points or 0.29 percent to close at 4,115.68.
The lower open on Wall Street preceded the release of minutes from the FOMC’s latest meeting, which showed that members debated whether or not increasing inflation may be more than “transitory.”
The minutes also showed that the central bank may start to discuss when to start rolling back asset purchases, especially as the country continues to make headway against Covid-19.
The European Central Bank could decide to scale back its emergency bond-buying program as early as next month.
Crude oil prices declined sharply on Wednesday, weighed down by an increase in U.S. crude stockpiles, and on worries about outlook for energy demand from Asian countries. West Texas Intermediate Crude oil futures for June ended down $2.13 or 3.3 percent at $63.36 a barrel.
Market Analysis
Lower Open Predicted For Thai Stock Market
2021-05-20 02:30:07
