Winning streak set to end for Thai stock market

(RTTNews) – The Thai stock market has finished higher in five consecutive sessions, rallying more than 40 points or 2.4% along the way. The Thailand Stock Exchange is now just above the 1,675 point plateau, although investors plan to cash on Thursday.

Global forecasts for Asian markets are weak amid concerns about the outlook for interest rates, especially among tech stocks. European markets were up and US stock markets were down and Asian markets are expected to follow this latest trend. The SET ended slightly higher on Wednesday following gains by energy companies and a mixed picture in financial stocks.

For the day, the index added 6.51 points or 0.39% to end at 1,676.79 after trading between 1,670.59 and 1,677.95. The volume was 27.933 billion shares valued at 93.126 billion baht. There were 832 drops and 817 winners, with 509 stocks ending unchanged. Among assets, Advanced Info fell 0.88%, while Asset World fell 1.24%, Banpu grew 2.83%, Bangkok Bank climbed 1.20%, Bangkok Dusit Medical a increased 1.34%, BTS Group and Gulf both lost 0.53%, Charoen Pokphand Foods fell 1.85%. , Energy Absolute rose 2.06%, IRPC jumped 2.05%, Kasikornbank collected 0.34%, Krung Thai Bank strengthened 1.48%, Krung Thai Card improved 1.25%, PTT advanced 2.63%, PTT Exploration and Production increased 0.84%, PTT Global Chemical gained 1.68%. , SCG Packaging fell 1.45%, Siam Commercial Bank sank 0.78%, Siam Concrete rose 0.26%, True Corporation fell 0.42%, TTB Bank slipped 1.36 % and Thailand Airport, Bangkok Expressway, CP All Public and PTT Oil & Retail remained unchanged.

Wall Street’s lead is broadly negative as major averages opened flat on Wednesday and kissed the line unchanged for most of the session before collapsing after the FOMC minutes were released.

The Dow Jones fell 392.54 points or 1.07% to end at 36,407.54, while the NASDAQ fell 522.54 points or 3.34% to close at 15,100.17 and the S&P 500 lost 92.96 points or 1.94% to finish at 4,700.58.

The massive sell-off on Wall Street came as the Fed minutes seemed to have a more hawkish tone, raising fears the central bank was more aggressive than expected.

According to the minutes of the December 14-15 meeting, Fed members are preparing to start reducing the size of the central bank’s balance sheet by about $ 8.8 trillion soon after raising interest rates .

Meanwhile, traders largely ignored a report from the ADP payroll processor showing much stronger than expected private sector job growth in December.

Crude oil prices showed a notable lead on Wednesday on optimism that the Omicron variant of the coronavirus will not have a significant impact on global demand. West Texas Intermediate crude oil futures for February delivery jumped $ 0.86 or 1.1% to $ 77.85 a barrel.

Closer to home, Thailand will release its December Consumer Confidence Index results later today; in November, his score was 44.9.

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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