The Thai stock market has ended lower in four straight sessions, retreating more than 80 points or 5.1 percent along the way. The Stock Exchange of Thailand now rests just beneath the 1,570-point plateau and it’s looking at another red light for Wednesday’s trade.
The global forecast for the Asian markets suggests consolidation on continued COVID-19 worries and concerns over the outlook for interest rates. The European and U.S. markets were down and the Asian markets figure to open in similar fashion.
The SET finished sharply lower on Tuesday following losses from the financial shares and the energy producers.
For the day, the index 21.00 points or 1.32 percent to finish at 1,568.69 after trading between 1,565.95 and 1,612.10. Volume was 38.755 billion shares worth 159.490 billion baht. There were 1,543 decliners and 421 gainers, with 322 stocks finishing unchanged.
Among the actives, Advanced Info surrendered 2.37 percent, while Bangkok Bank tanked 3.42 percent, Bangkok Dusit Medical tumbled 1.76 percent, Bangkok Expressway added 0.60 percent, BTS Group jumped 1.66 percent, CP All Public retreated 1.68 percent, Charoen Pokphand Foods plunged 3.25 percent, Delta Electronics advanced 0.90 percent, Energy Absolute surged 3.80 percent, Gulf declined 1.88 percent, IRPC stumbled 3.11 percent, Kasikornbank plummeted 3.30 percent, Krung Thai Bank skidded 1.74 percent, Krung Thai Card dropped 1.38 percent, PTT Oil & Retail sank 0.99 percent, PTT lost 1.39 percent, PTT Global Chemical shed 1.32 percent, SCG Packaging dipped 0.40 percent, Siam Commercial Bank fell 1.21 percent, Siam Concrete slumped 2.36 percent, True Corporation weakened 2.16 percent, TTB Bank was down 0.83 percent and Thailand Airport and PTT Exploration and Production were unchanged.
The lead from Wall Street is broadly negative as the major averages opened lower on Tuesday and remained largely under water throughout the trading day.
The Dow plummeted 652.22 points or 1.86 percent to finish at 34,483.72, while the NASDAQ tumbled 245.14 points or 1.55 percent to close at 15,537.69 and the S&P 500 dropped 88.26 points or 1.90 percent to end at 4,567.01.
The sell-off on Wall Street partly reflected renewed concerns about the new coronavirus variant after Moderna’s (MRNA) CEO said in an interview that COVID-19 vaccines are likely to be less effective against Omicron.
Stocks saw further downside after Federal Reserve Jerome Powell suggested during Congressional testimony that the central bank would discuss accelerating the pace at which it reduces its asset purchases during the next monetary policy meeting to contend with inflation.
Crude oil prices declined sharply on Tuesday amid fresh concerns about the outlook for oil and jet fuel demand. West Texas Intermediate Crude oil futures for January ended down by $3.77 or 5.4 percent at $66.18 a barrel.
Closer to home, Thailand will see November results for its business confidence index later today; in October, the index score was 47.0.
Thai Stock Market Tipped To Open Under Pressure
2021-12-01 02:30:16
