Thailand’s stock market is about to break a losing streak


(RTTNews) – Thailand’s stock market has finished lower in consecutive sessions, losing more than 10 points or 0.6% along the way. The Thailand Stock Exchange is now just above the 1,625 point plateau, although it should stop the bleeding on Thursday.

Global forecasts for Asian markets are positive, with technology, retail and energy stocks expected to lead higher. European and American markets were up and Asian stock exchanges should follow suit.

The SET ended marginally lower on Wednesday following losses in financial stocks and a mixed picture from energy producers.

For the day, the index fell 1.05 points or 0.06% to end at 1,625.18 after trading between 1,624.03 and 1,640.69. The volume was 22.682 billion shares worth 68.005 billion baht. There were 995 declines and 605 gains, with 638 stocks remaining unchanged.

Among assets, Advanced Info stumbled 1.79%, while Thailand Airport gained 0.36%, Banpu plunged 2.48%, Bangkok Bank fell 0.39%, Bangkok Dusit Medical jumped 1.89%, Bangkok Expressway gained 0.56%, B. Grimm fell 0.75%, BTS Group slipped 1.15%, CP All Public sank 0.78%, Charoen Pokphand Foods sank rose 0.99%, Energy Absolute rose 0.29%, Gulf gained 0.53%, IRPC climbed 1.22%, Kasikornbank fell 1.38%, Krung Thai Bank lost 0, 68%, PTT Oil & Retail improved 0.93%, PTT lost 0.68%, PTT Global Chemical fell 1.59%, Siam Commercial Bank fell 2.25%, TTB Bank fell 0 .81% and Krung Thai Card, PTT Exploration and Production and True Corporation remained unchanged.

Wall Street’s advance is bullish as the major averages opened fairly flat on Wednesday and showed little movement in the morning, but accelerated late to finish solidly higher.

The Dow Jones jumped 191.66 points or 0.60% to end at 32,120.28, while the NASDAQ jumped 170.29 points or 1.51% to end at 11,434.74 and the S&P 500 gained 37.25 points or 0.95% to close at 3,978.73.

The higher close on Wall Street came as minutes from the Federal Reserve’s latest meeting offered few surprises, although the central bank signaled it intended to move quickly to more monetary policy. neutral.

The shift to a more neutral monetary policy comes as the Fed seeks to bring inflation back to its 2% target while maintaining solid labor market conditions.

In economic news, the Commerce Department showed that new durable goods orders rose less than expected in April.

Crude oil futures settled higher on Wednesday, buoyed by tight supplies and expectations of higher demand during the summer driving season. West Texas Intermediate Crude oil futures for July gained $0.56 or 0.5% to $110.33 a barrel.

Closer to home, Thailand will provide April’s figures for imports, exports, trade balance and industrial production later today. Imports are expected to jump 17.8% year on year, from 18.0% in March. Exports are called higher by 14.55% annually, compared to 19.5% the previous month. The trade balance is said to be stable after the $1.46 billion surplus a month earlier. Production is expected to rise 3.1% year on year after contracting 0.1% in March.

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


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