Thai Stock Market Expected To Open Under Pressure On Wednesday

By Markets Businessinsider Com9 days ago

(RTTNews) - Ahead of the long holiday weekend for Labor Day and Coronation Day, the Thai stock market had snapped the two-day winning streak in which it had gathered more than 30 points or 2 percent. The Stock Exchange of Thailand now rests just beneath the 1,585-point plateau and the losses may accelerate on Wednesday.

The global forecast for the Asian markets is soft, with technology stocks and airlines expected to lead the way lower. The European markets were down and the U.S. bourses were mostly negative and the Asian markets are also tipped to open under pressure.

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The SET finished modestly lower on Friday following losses from the financial shares and a mixed picture from the energy producers.

For the day, the index lost 7.33 points or 0.46 percent to finish at 1,583.13 after trading between 1,580.74 and 1,593.23. Volume was 32.475 billion shares worth 85.480 billion baht. There were 1m051 decliners and 533 gainers, with 446 stocks finishing unchanged.

Among the actives, Advanced Info shed 0.58 percent, while Thailand Airport retreated 1.59 percent, Asset World sank 0.83 percent, Bangkok Asset Management added 0.49 percent, Bangkok Bank lost 0.83 percent, Bangkok Dusit Medical skidded 1.36 percent, Bangkok Expressway gained 0.63 percent, BTS Group fell 0.56 percent, Kasikornbank tumbled 1.86 percent, Krung Thai Bank dropped 0.88 percent, PTT Oil & Retail declined 0.81 percent, PTT surrendered 1.23 percent, PTT Exploration and Production advanced 0.85 percent, PTT Global Chemical rose 0.37 percent, SCG Packaging soared 2.29 percent, Siam Commercial Bank slid 0.47 percent, Siam Concrete was down 0.86 percent and TMB Bank, Charoen Pokphand Foods and Gulf were unchanged.

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