logo
Plus   Neg
Share
Email

Thai Bourse May Halt Losing Streak On Tuesday

The Thai stock market has moved lower in three straight sessions, sliding more than 20 points or 1.2 percent. The Stock Exchange of Thailand now rests just beneath the 1,640-point plateau although it may find traction on Tuesday.

The global forecast for the Asian markets is mixed and flat amid uncertainty about the outlook for global trade, while weakness in crude oil prices is likely to cap any upside. The European markets were up and the U.S. bourses were mixed and flat and the Asian markets are tipped to follow the latter lead.

The SET finished modestly lower on Monday following losses from the financial shares, cement stocks and energy producers.

For the day, the index sank 13.68 points or 0.83 percent to finish at 1,638.00 after trading between 1,632.82 and 1,647.49. Volume was 13.052 billion shares worth 40.670 billion baht. There were 1,122 decliners and 338 gainers, with 367 stocks finishing unchanged.

Among the actives, Advanced Info plunged 3.72 percent, while Thailand Airport skidded 1.45 percent, Bangkok Bank collected 0.47 percent, Bangkok Medical tumbled 2.09 percent, Bangkok Expressway shed 2.45 percent, Kasikornbank dropped 1.51 percent, Krung Thai Bank retreated 1.01 percent, PTT lost 0.52 percent, PTT Exploration and Production fell 0.40 percent, PTT Global Chemical slid 1.09 percent, Siam Commercial Bank gave away 0.75 percent, Siam Concrete was down 0.85 percent and Banpu and Charoen Pokphand Foods were unchanged.

The lead from Wall Street provides little guidance as stocks showed a lack of direction on Monday, bouncing back and forth across the unchanged line before ending mixed.

The Dow shed 53.22 points or 0.21 percent to finish at 25,053.11, while the NASDAQ added 9.71 points or 0.13 percent to 7,307.90 and the S&P rose 1.92 points or 0.07 percent to 2,709.80.

The choppy trading on Wall Street came amid uncertainty ahead of the next round of trade talks between the U.S. and China due to take place later this week as the world's two largest economies try to make a deal before an early March deadline.

A jump in tariffs on Chinese goods is currently set to take effect at that time, although they could be delayed if talks between U.S. and Chinese officials continue to make progress toward a trade deal.

Crude oil prices recovered from early weakness on Monday but still settled lower as weak global growth outlook raised concerns about energy demand. West Texas Intermediate Crude oil futures for March ended down $0.31 or 0.6 percent at $52.41 a barrel, well off the day's low of $51.23.

For comments and feedback contact: editorial@rttnews.com

Follow RTT