The rally could stagnate for the Thai stock market

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(RTTNews) – Thailand’s stock market has finished higher in consecutive sessions, reaping almost 10 points or 0.6% along the way. The Thai Stock Exchange is now just above the 1,640 point plateau, although it should run out of steam on Friday.

The global forecast for Asian markets is weak due to concerns over inflation and economic growth. European and US markets were firmly down and Asian exchanges are expected to open similarly.

The SET ended slightly higher on Thursday as gains in financial stocks were offset by weakness in energy producers.

For the day, the index rose 4.45 points or 0.27% to end at 1,641.34. The volume was 23.559 billion shares worth 80.431 billion baht. There were 1,056 declines and 654 gains, with 500 stocks remaining unchanged.

Among assets, Advanced Info rose 0.47%, while Thailand Airport fell 0.72%, Banpu improved 0.77%, Bangkok Bank jumped 5.49%, BTS Group fell 0.58%, Energy Absolute fell 1.40%, IRPC lost 0.55%, Kasikornbank climbed 3.46%. , Krung Thai Bank climbed 2.60%, Krung Thai Card rose 0.41%, PTT Oil & Retail fell 1.82%, PTT lost 0.66%, PTT Exploration and Production rose 2.35%, PTT Global Chemical added 0.52%, Siam Commercial Bank accelerated 3.67%, True Corporation slipped 0.43%, TTB Bank strengthened 3.25% and Bangkok Dusit Medical, Charoen Pokphand Foods, Gulf and CP All Public remained unchanged.

Wall Street’s advance is broadly negative as major averages opened slightly lower on Thursday, but losses accelerated sharply in the final hour of trading, sending them deep into the red on the finish.

The Dow Jones plunged 638.11 points or 1.94% to end at 32,272.79, while the NASDAQ fell 332.04 points or 2.75% to end at 11,754.23 and the S&P 500 fell 97.95 points or 2.38% to close at 4,017.82.

The selloff on Wall Street came as traders eagerly awaited the release of a Labor Department report on consumer price inflation later in the day. The report is expected to show consumer prices rose 0.7% in May after rising 0.3% in April.

Inflation data could impact the outlook for monetary policy ahead of the Federal Reserve’s interest rate decision next Wednesday.

On the economic front, a report released by the Labor Department showed that initial jobless claims in the United States rose more than expected in the week ended June 4.

Crude oil prices fell on Thursday as demand concerns resurfaced after authorities in Shanghai imposed new Covid-related restrictions. West Texas Intermediate crude oil futures for July ended down $0.60 or 0.5% at $121.51 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.

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