Thai Stock Market May Be Stuck In Neutral On Monday

The Thai stock market has moved higher in three straight sessions, collecting more than 40 points or 3.2 percent along the way. The Stock Exchange of Thailand now rests just above the 1,275-point plateau although it may spin its wheels on Monday.

The global forecast is soft amidst ambiguity over the outlook for interest rates and ongoing geopolitical issues. The European and U.S. markets were slightly lower and the Asian bourses are expected to follow that lead.

The SET finished sharply higher on Friday following gains from the food, finance, industrial, property, resource, services and technology sectors.

For the day, the index climbed 14.21 points or 1.13 percent to finish at 1,275.60 after trading between 1,257.85 and 1,278.55. Volume was 7.482 billion shares worth 45.773 billion baht. There were 298 gainers and 154 decliners, with 201 stocks finishing unchanged.

Among the actives, Advanced Info improved 0.88 percent, while Thailand Airport spiked 1.95 percent, Asset World climbed 1.01 percent, Banpu gained 0.95 percent, Bangkok Bank shed 0.58 percent, Bangkok Dusit Medical rallied 2.16 percent, Bangkok Expressway dropped 0.94 percent, B. Grimm rose 0.73 percent, BTS Group and Krung Thai Card both vaulted 1.87 percent, CP All Public was up 0.59 percent, Charoen Pokphand Foods added 0.46 percent, Energy Absolute surged 4.41 percent, Gulf soared 4.62 percent, Kasikornbank strengthened 1.31 percent, PTT Oil & Retail accelerated 3.65 percent, PTT gathered 0.76 percent, PTT Exploration and Production perked 0.43 percent, PTT Global Chemical expanded 1.29 percent, SCG Packaging advanced 0.98 percent, Siam Commercial Bank collected 0.38 percent, Siam Concrete lost 0.48 percent, True Corporation increased 0.84 percent, TTB Bank jumped 1.98 percent and Krung Thai Bank and Thai Oil were unchanged.

The lead from Wall Street is weak as the major averages opened higher on Friday but quickly faded, hugging both sides of the line before ending slightly lower.

The Dow shed 83.07 points or 0.17 percent to finish at 49,359.33, while the NASDAQ slipped 14.61 points or 0.06 percent to close at 23,515.39 and the S&P 500 fell 4.46 points or 0.06 percent to end at 6,940.01. For the week, the NASDAQ slid 0.7 percent, the S&P dipped 0.4 percent and the Dow eased 0.03 percent.

The choppy trading on Wall Street followed remarks from President Donald Trump suggesting National Economic Council Director Kevin Hassett may not be his choice to become the next Federal Reserve chair.

Hassett had been seen as the frontrunner to replace Fed Chair Jerome Powell, whose term expires in May, but predictions now show former Fed Governor Kevin Warsh has surged into the lead following Trump’s remarks – causing some uncertainty about the outlook for interest rates.

Trump’s threats to take control of Greenland continue to attract attention, with the president suggesting he may impose tariffs on countries that don’t go along with his plans for the territory.

Crude oil moved higher on Friday as traders weighed the continuing risks after reports that the U.S. is consolidating its forces in the Middle East. West Texas Intermediate crude for February delivery was up $0.40 or 0.68 percent at $59.59 per barrel.