Thailand’s stock market could spin its wheels on Wednesday


(RTTNews) – The Thai stock market on Tuesday ended the two-day decline in which it had fallen more than 40 points or 2.5%. Thailand’s stock market is now just above the 1,600-point plateau, although it may be stuck in neutral on Wednesday.

The global outlook is cautious ahead of the US interest rate decision later today. European markets were down and US markets were mixed and little changed, and oversold Asian markets should see little movement ahead of the rate decision.

The SET ended slightly higher on Tuesday following the mixed performance of financial stocks and energy producers.

For the day, the index gained 2.97 points or 0.19% to end at 1,603.03 after trading between 1,590.75 and 1,605.53. The volume was 19.924 billion shares worth 63.139 billion baht. There were 957 declines and 675 gains, with 573 stocks ending unchanged.

Among assets, Advanced Info rose 0.97%, while Thailand Airport fell 0.37%, Banpu climbed 3.08%, Bangkok Bank climbed 1.13%, Bangkok Dusit Medical sank 0.81%, Bangkok Expressway fell 0.57%, CP All Public rose 0.81%, Charoen Pokphand Foods rose 0.96%, Energy Absolute fell 1.45%, Gulf lost lost 0.53%, IRPC gained 0.59%, Kasikornbank cashed in 0.34%, Krung Thai Bank gained 0.64%, PTT Oil & Retail gained 0.96%, PTT Exploration and Production increased by 0.29%. PTT Global Chemical gained 2.21%, Siam Commercial Bank lost 0.46%, True Corporation jumped 1.76%, TTB Bank fell 0.80% and Krung Thai Card, B. Grimm and PTT are remained unchanged.

Wall Street’s advance is murky after major averages cleared from a higher open on Friday. The Dow and S&P quickly fell and stayed that way, while the NASDAQ bounced off the line to finish higher.

The Dow Jones lost 151.91 points or 0.50% to end at 30,364.83, while the NASDAQ added 19.12 points or 0.18% to close at 10,828.35 and the S&P 500 fell. down 14.15 points or 0.38% to end at 3,735.48.

The choppy trade on Wall Street comes ahead of the Federal Reserve’s monetary policy announcement later in the day.

The Fed is expected to raise interest rates by 50 basis points, although forecasts suggest a 75 basis point increase.

In economic news, the Labor Department said producer prices rose on a monthly basis, but fell annually from a 21-year high.

Crude oil futures fell on Tuesday on reports of a likely proposal to impose a federal surtax on oil companies to curb rising inflation. West Texas Intermediate crude oil futures for July ended down $2.00 or 1.7% at $118.93 a barrel.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


Comments are closed.