Thailand’s stock market could rise on Friday

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(RTTNews) – The Thai stock market ended lower in consecutive sessions, slipping nearly 40 points or 2.4% along the way. Thailand’s stock market is now just below the 1,585 plateau, although it may find support on Friday.

Global forecasts are murky amid uncertainties over interest rates and economic growth. European markets were down and US markets were mixed and little changed and Asian markets figured to share the difference.

The SET ended sharply lower on Thursday following losses in financial stocks and energy producers.

For the day, the index fell 28.82 points or 1.79% to end at 1,584.52 after trading between 1,580.10 and 1,607.88. The volume was 25.341 billion shares worth 92.529 billion baht. There were 1,654 declines and 362 gains, with 235 stocks remaining unchanged.

Among assets, Advanced Info gained 0.93%, while Banpu fell 2.54%, Bangkok Bank slipped 1.18%, Bangkok Dusit Medical climbed 4.00%, B. Grimm gained 0.79%, BTS Group fell 1.13%, Charoen Pokphand Foods slipped 0.84%, Energy Absolute fell 2.42%, Gulf fell 1.08%, IRPC plunged 4.35%, Kasikornbank fell 2.06%, Krung Thai Bank lost 0.67%, Krung Thai Card fell 0.43%, PTT Oil & Retail fell 1.89%, PTT fell 0.68%, PTT Exploration and Production fell 2.29%, PTT Global Chemical fell 6.77%, Siam Commercial Bank fell 3.11%, True Corporation fell 1.84%, TTB Bank cratred 3.05% and CP All Public was unchanged.

Wall Street’s advance offers little clarity as major averages opened lower on Thursday and spent much of the day bouncing off the flat line before finally ending mixed and little moved.

The Dow Jones lost 103.81 points or 0.33% to end at 31,730.30, while the NASDAQ rose 6.73 points or 0.06% to close at 11,370.96 and the S&P 500 rose. fell 5.10 points or 0.13% to end at 3,930.08.

The volatility on Wall Street came as traders continued to debate whether markets had bottomed, with major averages falling to their worst levels in more than a year.

However, recent bargain-hunting efforts have been largely thwarted by concerns over the Federal Reserve aggressively raising interest rates in an effort to combat high inflation.

Adding to concerns, the Labor Department reported that the annual rate of growth in producer prices slowed less than expected in April. In addition, the Labor Department unexpectedly showed a slight increase in first claims for US unemployment benefits last week.

Crude oil futures ended slightly higher on Thursday as the European Union’s proposal to ban Russian oil offset concerns over prolonged Covid-19 shutdowns in China. West Texas Intermediate crude oil futures for June ended up $0.42 or 0.4% at $106.13 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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