Ahead of Thursday’s birthday commemorating Queen Suthida’s birthday, the Thai stock market had ended the two-day winning streak in which it had spiked more than 35 points or 2 percent. The Stock Exchange of Thailand now rests just above the 1,615-point plateau and it may extend its losses on Friday.
The global forecast for the Asian markets is mixed to lower ahead of key U.S. jobs data later today, and the effect it may have on interest rates. The European markets were mixed and the U.S. bourses were down and the Asian market figure to split the difference.
The SET finished barely lower on Wednesday as losses from the financials were offset by gains from the energy producers.
For the day, the index eased 1.04 points or 0.06 percent to finish at 1,617.55 after trading between 1,612.94 and 1,627.67. Volume was 33.298 billion shares worth 101.450 billion baht. There were 979 decliners and 641 gainers, with 487 stocks finishing unchanged.
Among the actives, Advanced Info gained 0.88 percent, while Thailand Airport fell 0.39 percent, Asset World tanked 2.03 percent, Bangkok Asset Management skidded 1.05 percent, Bangkok Bank retreated 1.28 percent, Bangkok Dusit Medical advanced 0.93 percent, Bangkok Expressway declined 1.20 percent, BTS Group added 0.53 percent, Gulf spiked 2.94 percent, Kasikornbank plunged 2.45 percent, Krung Thai Bank tumbled 1.80 percent, Krung Thai Card lost 0.67 percent, PTT Oil & Retail sank 2.45 percent, PTT Exploration and Production perked 0.84 percent, PTT Global Chemical rose 0.39 percent, SCG Packaging increased 0.45 percent, Siam Commercial Bank dropped 0.96 percent, Siam Concrete surrendered 0.90 percent and TTB Bank, Charoen Pokphand Foods and PTT were unchanged.
The lead from Wall Street is negative as stocks opened firmly lower on Thursday, made back some ground as the day progressed but still ended solidly in the red.
The Dow shed 23.34 points or 0.07 percent to finish at 34,577.04, while the NASDAQ plunged 141.82 points or 1.03 percent to end at 13,614.51 and the S&P 500 fell 15.27 points 0.36 percent to close at 4,192.85.
The early weakness on Wall Street came as strong jobs data led to renewed concerns about the outlook for monetary policy when payroll processor ADP said private sector employment in the U.S. spiked much more than expected in May.
Also, the Labor Department noted a modest decrease in first-time claims for U.S. jobless benefits last week. The data comes ahead of the Labor Department’s more closely watched report on the employment situation last month.
Crude oil futures settled roughly flat on Thursday after two straight days of strong gains as traders reacted to inventory data and weighed energy demand prospects. West Texas Intermediate Crude oil futures for July ended down $0.02 at $68.81 a barrel.
Closer to home, Thailand will release May data for consumer prices later today, with forecasts suggesting an increase of 2.85 percent on year for overall inflation and 0.45 percent on year for core CPI.
Market Analysis
Continued Consolidation Called For Thai Stock Market
2021-06-04 02:31:01
