Thailand’s stock market could spin its wheels on Monday

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(RTTNews) – Ahead of Friday’s special stock market holiday, the Thai stock market had risen in three consecutive sessions, collecting more than 25 points or 1.7% along the way. The Thailand Stock Exchange is now just above the 1,630 point plateau although it may be stuck at neutral on Monday.

Global forecasts for Asian markets are grim following recent volatility, with crude oil prices providing support in what has been an otherwise difficult month. European markets were down and US stock markets were mixed and stable and Asian markets should divide the difference.

The SET ended slightly higher on Thursday following gains from financial stocks and energy producers.

For the day, the index gained 11.56 points or 0.71% to end at 1,631.15 after trading between 1,623.00 and 1,637.65. The volume was 43.830 billion shares worth 140.532 billion baht. There were 1,120 drops and 639 winners, with 527 stocks ending unchanged.

Among assets, Thailand Airport grew 0.40%, while Bangkok Bank climbed 3.52%, Bangkok Expressway fell 1.65%, BTS Group gained 0.52%, Charoen Pokphand Foods fell 0.95%, Gulf improved 0.61%, Kasikornbank jumped 7.38%, Krung Thai Bank rebounded 2.68%, Krung Thai Card fell 1.65%, PTT rose 1.27%, PTT Exploration and Production rose 0.44%, PTT Global Chemical rose 0.83%, SCG Packaging rose 1.19%, Siam Commercial Bank rose 18, 72%, TTB Bank increased by 3.70% and Advanced Info, Bangkok Dusit Medical, PTT Oil & Retail and Siam Concrete remained unchanged.

The Wall Street lead offers little clarity as the major averages opened lower on Friday, then bounced off the unchanged line, ultimately ending mixed and little changed.

The Dow Jones added 33.18 points or 0.10% to close at 34,798.00, while the NASDAQ fell 4.54 points or 0.03% to close at 15,047.70 and the S&P 500 a increased 6.50 points or 0.15% to end at 4,455.48. For the week, the Dow Jones rose 0.6%, the NASDAQ added 0.1% and the S&P gained 0.5%.

The poor performance of Wall Street is explained by uncertainty about the market outlook following recent volatility.

Traders also expressed uncertainty about the situation with China Evergrande, as the indebted real estate company did not provide clarification on a key interest payment.

On the economic news side, the Commerce Department reported an unexpected increase in US new home sales in August.

Crude oil prices surged on Friday and first-month WTI oil futures posted gains for a fifth straight week amid tighter supplies. West Texas Intermediate crude oil futures for November rose $ 0.68 or 0.9% to 73.98 a barrel. WTI crude futures gained 2.8% for the week.

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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