Thai stock market expected to consolidate on Monday

(RTTNews) – Thailand’s stock market has finished higher in four straight sessions, picking up nearly 25 points or 1.4% along the way. The Thai Stock Exchange is now just above the 1,690 point plateau, although it should run out of steam on Monday.

The global forecast for Asian markets is weak due to concerns over the outlook for interest rates and the economic slowdown. European and American markets were down sharply and Asian stock markets are expected to open in the red.

The SET finished barely higher on Friday as gains in tech and food stocks were offset by weakness in financials and resource companies.

For the day, the index rose 0.04 points or 0.00% to end at the daily high of 1,690.59 after falling to 1,680.86. The volume was 23.209 billion shares worth 71.018 billion baht. There were 1,053 declines and 583 gains, with 566 shares remaining unchanged.

Among assets, Advanced Info fell 0.46%, while Banpu rose 0.85%, Bangkok Bank fell 1.85%, B Grimm fell 0.75%, Charoen Pokphand Foods rebounded 0.84%, Delta Electronics fell 0.52%, Energy Absolute gained 0.83%, Gulf fell 0.50%. %, Kasikornbank lost 0.65%, Krung Thai Bank soared 9.16%, PTT Oil & Retail fell 0.40%, PTT fell 1.32%, PTT Exploration and Production fell 1.35%, SCG Packaging fell 0.58%, Siam Commercial Bank plunged 2.92%, True Corporation fell 0.81%, TTB Bank fell 0.78% and IRPC and PTT Global Chemical remained unchanged.

Wall Street’s advance is broadly negative as major averages opened solidly lower on Friday and saw losses accelerate as the day progressed.

The Dow Jones fell 981.40 points or 2.82%, while the NASDAQ plunged 335.41 points or 2.55% to close at 12,839.29 and the S&P 500 fell 121.88 points or 2.77% to end at 4,271.78.

For the week, the Dow Jones fell 1.9%, the NASDAQ fell 3.8% and the S&P fell 2.8%.

Continued weakness on Wall Street reflected lingering concerns about the Federal Reserve’s aggressive monetary policy tightening. Fed Chairman Jerome Powell said he saw merit in the “initial loading” policy measures and indicated that a 50 basis point rate hike would be on the table at the next Fed meeting. the central bank in early May.

Crude oil futures slipped on Friday on fears of lower energy demand and worries about an economic slowdown. The surge in the dollar amid the Fed’s aggressive stance on monetary policy tightening also weighed on oil prices. West Texas Intermediate crude oil futures for June ended down $1.72 or 1.7% at $102.07 a barrel.

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