The losing streak set to continue for the Thai stock market

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(RTTNews) – Ahead of Wednesday’s holiday for Asarnha Bucha Day, the Thai stock market had finished lower in three consecutive sessions, losing more than 15 points or 1% along the way. The Stock Exchange of Thailand is now just above the plateau of 1,545 points and is eyeing another soft start for Thursday’s trade.

The overall forecast for Asian markets is negative due to concerns over the outlook for interest rates. European and American markets were down and Asian markets are expected to open similarly.

The SET ended slightly lower on Tuesday on losses from energy producers and a mixed picture for financial stocks,

For the day, the index lost 10.60 points or 0.68% to end at 1,546.80 after trading between 1,542.95 and 1,556.90. The volume was 16.793 billion shares worth 47.877 billion baht. There were 1,151 declines and 458 gains, with 481 stocks remaining unchanged.

Among assets, Advanced Info lost 0.49%, while Thailand Airport slipped 1.06%, Asset World fell 1.23%, Banpu fell 0.78%, Bangkok Bank collected 0, 38%, Bangkok Dusit Medical jumped 1.89%, Bangkok Expressway lost 0.57%, B. Grimm slipped 0.66%, BTS Group fell 0.58%, CP All Public fell 0.40%, Charoen Pokphand Foods fell 1.89%, Energy Absolute weakened 1.27%, Gulf slipped 0.52%, IRPC fell 0.62%, Kasikornbank rose 0.34%, Krung Thai Card plunged 2.25%. %, PTT Oil & Retail fell 1.94%, PTT fell 0.74%, PTT Exploration and Production fell 0.93%, PTT Global Chemical fell 1.11%, Siam Commercial Bank fell 1.96%, Siam Concrete fell 1.06%, Thai Oil fell 0.49%, True Corporation fell 1.69%, TTB Bank fell 1.71% and Krung Thai Bank and SCG Packaging remained unchanged.

Wall Street’s lead is weak as major averages opened lower on Wednesday, flirting with the unchanged line before finally ending with modest losses.

The Dow Jones fell 208.54 points or 0.67% to end at 30,772.79, while the NASDAQ fell 17.15 points or 0.15% to end at 11,247.58 and the S&P 500 fell 17.02 points or 0.45% to close at 3,801.78.

Wall Street’s early weakness came as a Labor Department report showing a bigger-than-expected rise in US consumer prices added to concerns about the outlook for interest rates.

The bigger-than-expected jump in inflation has bolstered expectations that the Federal Reserve will raise interest rates by 75 basis points later this month and raises the likelihood of another rate hike by 75 basis points. base in September.

Later that day, the Fed released its Beige Book, a compilation of anecdotal evidence on economic conditions in each of the Fed’s twelve districts, which noted that U.S. economic activity has grown at a modest pace since mid-May.

Crude oil prices shrugged off a surge in US inflation and climbed higher on Wednesday, rebounding smartly after suffering a steep loss in the previous session. West Texas Intermediate crude oil futures for August ended up $0.46 at $96.30 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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