The Thai stock market headed south again on Monday, one session after ending the two-day slide in which it had plummeted almost 50 points or 3 percent. The Stock Exchange of Thailand now rests just beneath the 1,550-point plateau although it’s expected to see renewed support on Tuesday.
The global forecast for the Asian markets is slightly positive, with economic optimism tempered by coronavirus concerns. The European and U.S. markets were slightly higher and the Asian bourses are tipped to follow that lead.
The SET finished slightly lower on Monday as losses from the energy producers were mitigated by support from the financial sector.
For the day, the index dipped 2.25 points or 0.14 percent to finish at 1,549.84 after trading between 1,544.71 and 1,561.72. Volume was 23.466 billion shares worth 75.442 billion baht. There were 973 decliners and 557 gainers, with 492 stocks finishing unchanged.
Among the actives, Advanced Info rose 0.29 percent, while Thailand Airport jumped 1.66 percent, Bangkok Bank advanced 0.95 percent, Bangkok Dusit Medical plunged 3.33 percent, Bangkok Expressway skidded 1.26 percent, BTS Group climbed 1.14 percent, Charoen Pokphand Foods surrendered 3.81 percent, Gulf sank 0.75 percent, Kasikornbank collected 0.44 percent, Krung Thai Card added 0.38 percent, PTT shed 0.67 percent, PTT Exploration and Production lost 0.88 percent, PTT Global Chemical plummeted 6.41 percent, Siam Commercial Bank advanced 1.09 percent, TTB Bank declined 0.98 percent and Krung Thai Bank, PTT Oil & Retail, SCG Packaging and Siam Concrete were unchanged.
The lead from Wall Street suggests mild upside as stocks shook off a mixed start on Monday and wound up with modest gains to fresh record closing highs.
The Dow climbed 126.02 points or 0.36 percent to finish at 34,996.18, while the NASDAQ added 31.32 points or 0.21 percent to end at 14,733.24 and the S&P 500 rose 15.08 points or 0.35 percent to close at 4,384.63.
The modestly higher close on Wall Street reflected recent upward momentum, which has helped propel stocks to record highs despite uncertainty about the global economic outlook.
Traders may also have been reluctant to make significant moves ahead of the start of earnings season, with several big-name companies due to report their quarterly results this week.
Crude oil futures closed lower Monday after two days of gains amid concerns about the outlook for energy demand due to the surge in the delta variant of the coronavirus. West Texas Intermediate Crude oil futures for August ended down $0.46 or 0.6 percent at $74.10 a barrel.
Market Analysis
Thai Stock Market Called Rangebound On Tuesday
2021-07-13 02:30:10
