The Thai stock market has finished lower in six straight sessions, sinking more than 40 points or 2.5 percent along the way. The Stock Exchange of Thailand now rests just above the 1,585-point plateau although it’s expected to find support on Friday.
The global forecast for the Asian markets is positive on renewed optimism for economic recovery. The European and U.S. markets were up and the Asian bourses are expected to open in similar fashion.
The SET finished modestly lower on Thursday following mixed performances from the financial shares and the energy producers.
For the day, the index shed 6.36 points or 0.40 percent to finish at 1,585.72 after trading between 1,569.93 and 1,589.33. Volume was 28.596 billion shares worth 89.179 billion baht. There were 1,214 decliners and 377 gainers, with 417 stocks finishing unchanged.
Among the actives, Advanced Info added 0.59 percent, while Thailand Airport tanked 2.66 percent, Asset World retreated 1.29 percent, Bangkok Asset Management skidded 1.05 percent, Bangkok Bank dropped 0.86 percent, Bangkok Dusit Medical climbed 1.32 percent, BTS Group declined 1.57 percent, Charoen Pokphand Foods sank 0.93 percent, Gulf jumped 1.49 percent, Kasikornbank lost 0.42 percent, PTT Oil & Retail slid 0.82 percent, PTT Exploration and Production advanced 0.84 percent, PTT Global Chemical spiked 2.16 percent, SCG Packaging fell 0.44 percent, Siam Commercial Bank collected 0.25 percent, Siam Concrete gathered 1.45 percent, TTB Bank improved 0.89 percent and Bangkok Expressway, Krung Thai Bank, Krung Thai Card and PTT were unchanged.
The lead from Wall Street is firm as stocks opened solidly higher on Friday and remained comfortably in the green throughout the session.
The Dow spiked 322.58 points or 0.95 percent to finish at 34,196.82, while the NASDAQ jumped 97.98 points or 0.69 percent to end at 14,369.71 and the S&P 500 gained 24.65 points or 0.58 percent to close at 4,266.49.
The strength on Wall Street reflected a resumption of the upward momentum seen earlier in the week, which helped lift the Dow well off its lowest levels in over two months.
Positive sentiment may also have been generated in reaction to a Labor Department report showing a modest decrease in first-time claims for U.S. unemployment benefits last week.
News that President Joe Biden and a bipartisan group of Senators have reached an agreement on a new infrastructure plan may also have helped support the markets.
Crude oil futures settled slightly higher Thursday, continuing to benefit from data that showed a larger than expected drop in U.S. crude inventories last week. West Texas Intermediate Crude oil futures for August ended up $0.22 or 0.3 percent at $73.30 per barrel.
Market Analysis
Thai Stock Market Overdue To Snap Losing Streak
2021-06-25 02:30:15
