The Thai stock market has finished higher in back-to-back sessions, gathering almost 10 points or 0.6 percent along the way. The Stock Exchange of Thailand now sits just above the 1,640-point plateau although it figures to run out of steam on Friday.
The global forecast for the Asian markets is soft on concerns for inflation and economic growth. The European and U.S. markets were firmly lower and the Asian bourses are tipped to open in similar fashion.
The SET finished slightly higher on Thursday as gains from the financial shares were offset by weakness from the energy producers.
For the day, the index rose 4.45 points or 0.27 percent to finish at 1,641.34. Volume was 23.559 billion shares worth 80.431 billion baht. There were 1,056 decliners and 654 gainers, with 500 stocks finishing unchanged.
Among the actives, Advanced Info increased 0.47 percent, while Thailand Airport sank 0.72 percent, Banpu improved 0.77 percent, Bangkok Bank surged 5.49 percent, BTS Group was down 0.58 percent, Energy Absolute retreated 1.40 percent, IRPC lost 0.55 percent, Kasikornbank spiked 3.46 percent, Krung Thai Bank soared 2.60 percent, Krung Thai Card rose 0.41 percent, PTT Oil & Retail tumbled 1.82 percent, PTT shed 0.66 percent, PTT Exploration and Production rallied 2.35 percent, PTT Global Chemical added 0.52 percent, Siam Commercial Bank accelerated 3.67 percent, True Corporation slid 0.43 percent, TTB Bank strengthened 3.25 percent and Bangkok Dusit Medical, Charoen Pokphand Foods, Gulf and CP All Public were unchanged.
The lead from Wall Street broadly negative as the major averages opened slightly lower on Thursday but the losses accelerated sharply in the final hour of trade, sending them deep into the red at the finish.
The Dow plunged 638.11 points or 1.94 percent to finish at 32,272.79, while the NASDAQ plummeted 332.04 points or 2.75 percent to end at 11,754.23 and the S&P 500 sank 97.95 points or 2.38 percent to close at 4,017.82.
The sell-off on Wall Street came as traders looked ahead to the release of a Labor Department report on consumer price inflation later today. The report is expected to show that consumer prices increased by 0.7 percent in May after rising by 0.3 percent in April.
The inflation data could have an impact on the outlook for monetary policy ahead of the Federal Reserve’s decision on interest rates next Wednesday.
On the economic front, a report released by the Labor Department showed first-time claims for U.S. unemployment benefits rose by more than expected in the week ended June 4th.
Crude oil prices drifted lower on Thursday as demand concerns resurfaced following authorities in Shanghai imposing new Covid-related restrictions. West Texas Intermediate Crude oil futures for July ended down by $0.60 or 0.5 percent at $121.51 a barrel.
Market Analysis
Rally May Stall For Thai Stock Market
2022-06-10 02:30:10
