Plus   Neg

Thai Stock Market Predicted To Open Under Pressure

The Thai stock market on Monday halted the five-day losing streak in which it had stumbled more than 35 points or 2.2 percent. The Stock Exchange of Thailand now rests just beneath the 1,615-point plateau although it's likely to open under pressure again on Tuesday.

The global forecast for the Asian markets is mixed to lower, thanks to ongoing concerns regarding the trade spat between the United States and China. The European markets were up and the U.S. bourses were down and the Asian markets are expected to follow the latter lead.

The SET finished modestly higher on Monday following gains from the financial shares and the energy producers.

For the day, the index advanced 7.75 points or 0.48 percent to finish at 1,613.71 after trading between 1,607.32 and 1,616.06. Volume was 15.557 billion shares worth 39.911 billion baht. There were 741 gainers and 676 decliners, with 489 stocks finishing unchanged.

Among the actives, Advanced Info shed 0.89 percent, while Thailand Airport advanced 1.02 percent, Banpu surged 5.00 percent, Bangkok Bank climbed 1.21 percent, Bangkok Expressway jumped 1.89 percent, Charoen Pokphand Foods spiked 1.94 percent, Kasikornbank accelerated 2.02 percent, Krung Thai Bank collected 0.59 percent, PTT added 0.55 percent, PTT Exploration and Production gained 0.86 percent, PTT Global Chemical was up 0.97 percent, Siam Commercial Bank rose 1.32 percent, Siam Concrete tumbled 2.26 percent, TMB Bank sank 0.65 percent and Bangkok Medical and BTS Group were unchanged.

The lead from Wall Street is soft as stocks showed a lack or direction on Monday, bouncing back and forth across the unchanged line before finishing in the red.

The Dow shed 95.70 points or 0.36 percent to 26,478.02, while the NASDAQ lost 26.18 points or 0.33 percent to 7,956.29 and the S&P 500 fell 13.22 points or 0.45 percent to 2,938.79.

The choppy trading on Wall Street came as traders seemed reluctant to make large moves ahead of Thursday's high-level trade talks in Washington. Chinese officials are signaling they're increasingly reluctant to agree to the broad trade deal being pursued by President Donald Trump.

The negotiations come as the trade war continues to hang over the economy, with a survey by the National Association for Business Economics showing 53 percent of economists see trade policy as the key downside risk to the economy.

Crude oil futures failed to hold early gains and ended slightly weak on Monday, despite data that showed a drop in OPEC output in September. West Texas Intermediate Crude oil futures for November ended down $0.06 at $52.75 a barrel after peaking at $54.06 earlier in the day.

For comments and feedback contact: editorial@rttnews.com

Follow RTT