The Thai stock market has finished lower in two straight sessions, tumbling almost 50 points or 3 percent along the way. The Stock Exchange of Thailand now rests just beneath the 1,545-point plateau and it’s tipped to open under pressure again on Friday.
The global forecast for the Asian markets suggests consolidation on concerns over the spread of the coronavirus variant. The European and U.S. markets were down and the Asian markets are tipped to open in similar fashion.
The SET finished sharply lower on Thursday with damage across the board – especially from the financial shares and the energy producers.
For the day, the index plunged 32.93 points or 2.09 percent to finish at 1,543.67 after trading between 1,540.56 and 1,567.33. Volume was 33.539 billion shares worth 110.954 billion baht. There were 1,598 decliners and 311 gainers, with 149 stocks finishing unchanged.
Among the actives, Advanced Info dropped 0.88 percent, while Thailand Airport skidded 2.02 percent, Bangkok Bank tumbled 3.24 percent, Bangkok Dusit Medical spiked 2.13 percent, Bangkok Expressway retreated 1.86 percent, BTS Group tanked 3.80 percent, Charoen Pokphand Foods declined 1.90 percent, Gulf surrendered 2.21 percent, Kasikornbank plunged 4.70 percent, Krung Thai Bank sank 3.85 percent, Krung Thai Card plummeted 5.51 percent, PTT Oil & Retail lost 2.52 percent, PTT weakened 3.87 percent, PTT Exploration and Production shed 3.38 percent, PTT Global Chemical fell 1.27 percent, SCG Packaging slid 0.79 percent, Siam Commercial Bank was down 2.65 percent, Siam Concrete climbed 0.96 percent and TTB Bank cratered 5.56 percent.
The lead from Wall Street is negative as stocks opened sharply lower on Thursday, made back some ground as the day progressed but still ended firmly in the red.
The Dow plunged 259.86 points or 0.75 percent to finish at 34,421.93, while the NASDAQ dropped 105.28 points or 0.72 percent to end at 14,559.79 and the S&P 500 sank 37.31 points or 0.86 percent to close at 4,320.82.
Concerns about the outlook for the global economy contributed to the early sell-off on Wall Street, while news that Japan has declared a new state of emergency for Tokyo ahead of the Olympic Games added to worries about the impact of new coronavirus variants.
In U.S. economic news, the Labor Department released a report showing initial jobless claims unexpectedly inched higher last week.
Crude oil futures settled higher Thursday after data showed a bigger than expected decline in crude inventories in the U.S. last week. West Texas Intermediate Crude oil futures for August ended up by $0.74 or 1 percent at $72.94 a barrel.
Thai Bourse Predicted To Extend Losing Streak
2021-07-09 02:30:19
