The Thai stock market has alternated between positive and negative finishes through the last five trading days since the end of the two-day slide in which it had plummeted almost 50 points or 3 percent. The Stock Exchange of Thailand now rests just above the 1,570-point plateau although it’s likely to head south again on Friday.
The global forecast for the Asian markets is soft on sinking crude oil prices and renewed Covid-19 concerns. The European markets were down and the U.S. bourses were mixed and the Asian markets figure to split the difference.
The SET finished slightly higher on Thursday as gains from the financials were offset by weakness from the energy producers.
For the day, the index rose 2.31 points or 0.15 percent to finish at 1,572.01 after trading between 1,570.96 and 1,580.43. Volume was 26.751 billion shares worth 83.261 billion baht.
Among the actives, Thailand Airport tanked 2.43 percent, while Bangkok Bank advanced 0.95 percent, Bangkok Dusit Medical skidded 1.29 percent, Bangkok Expressway added 0.62 percent, Gulf sank 0.75 percent, Kasikornbank collected 0.44 percent, Krung Thai Card lost 0.36 percent, PTT Oil & Retail dropped 0.86 percent, PTT shed 0.67 percent, PTT Exploration and Production retreated 0.90 percent, PTT Global Chemical gained 0.44 percent, SCG Packaging declined 1.56 percent, Siam Commercial Bank rose 0.54 percent, Siam Concrete slid 0.94 percent, TTB Bank climbed 0.98 percent and Advanced Info, BTS Group, Charoen Pokphand Foods and Krung Thai Bank were unchanged.
The lead from Wall Street is something of a dichotomy as stocks opened lower on Thursday. The NASDAQ and S&P stayed in the red all day, but the Dow bounced back and forth across the unchanged line and managed a slightly higher finish.
The Dow added 53.79 points or 0.15 percent to finish at 34,987.02, while the NASDAQ sank 101.82 points or 0.70 percent to end at 14,543.13 and the S&P 500 fell 14.27 points or 0.33 percent to close at 4,360.03.
The weakness in the broader markets partly reflected concerns that some central banks around the world are considering tightening monetary policy much sooner than the Federal Reserve.
In economic news, the Federal Reserve said industrial production increased less than expected in June. Also, the Labor Department said first-time claims for unemployment benefits decreased in line with estimates last week.
Also, the Labor Department said U.S. import prices increased as expected last month, while separate reports from the New York Federal Reserve and the Philadelphia Federal Reserve showed mixed readings on the pace of growth in manufacturing activity in the two regions.
Crude oil prices declined sharply Thursday, sending the most active crude futures contracts to their lowest close in nearly a month amid rising concerns about outlook for energy demand. West Texas Intermediate Crude oil futures for August ended down by $1.48 or 2 percent at $71.65 a barrel, the lowest settlement since June 18.
Market Analysis
Renewed Consolidation Expected For Thai Stock Market
2021-07-16 02:33:59
