Thai Stock Market Figures To Be Rangebound - Dailyforextrading

Thai Stock Market Figures To Be Rangebound - Dailyforextrading

The Thai stock market on Friday wrote a finish to the three-day winning streak in which it had gathered almost 8 points or 0.5 percent.

The Stock Exchange of Thailand now sits just above the 1,675-point plateau and it's like to remain in that neighborhood again on Monday.

The global forecast for the Asian markets is lackluster, with rising residual momentum and surging crude oil prices. The European and U.S. markets were mixed and little changed and the Asian bourses figure to follow suit.

The SET finished slightly lower on Friday following losses from the energy producers and a mixed picture from the financials.

For the day, the index shed 4.09 points or 0.24 percent to finish at 1,676.80 after trading between 1,674.12 and 1,685.41. Volume was 24.318 billion shares worth 62.111 billion baht. There were 1,224 decliners and 440 gainers, with 639 stocks finishing unchanged.

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Among the actives, Asset World dropped 0.80 percent, while Bangkok Bank shed 0.73 percent, Bangkok Dusit Medical advanced 0.99 percent, Bangkok Expressway skidded 1.16 percent, BTS Group lost 0.55 percent, CP All Public fell 0.39 percent, Charoen Pokphand Foods added 0.41 percent.

Energy Absolute rose 0.27 percent, IRPC slipped 0.56 percent, Kasikornbank dipped 0.31 percent, PTT Oil & Retail sank 0.99 percent, PTT retreated 1.27 percent.

PTT Exploration and Production declined 1.62 percent, SCG Packaging slumped 0.88 percent, Siam Commercial Bank collected 0.44 percent, Siam Concrete dipped 0.26 percent, True Corporation climbed 1.00 percent.

TTB Bank gained 0.78 percent and Advanced Info, Thailand Airport, Banpu, Total Access Communication, Gulf, Krung Thai Bank, Krung Thai Card and PTT Global Chemical were unchanged.

The lead from Wall Street is uninspired as the major averages opened mixed on Friday and wound up in a similar fashion and little changed at the session's end.

The Dow climbed 153.34 points or 0.44 percent to finish at 34,861,24, while the NASDAQ shed 22.50 points or 0.16 percent to end at 14,169.30 and the S&P 500 rose 22.90 points or 0.51 percent to close at 4,543.06. For the week, the Dow rose 0.3 percent, the S&P jumped 1.8 percent and the NASDAQ spiked 2.0 percent.

The choppy trade came after the U.S. and the European Union signed an agreement for the supply of liquefied natural gas to reduce reliance on Russian supply.

In U.S. economic news, the National Association of Realtors said pending home sales unexpectedly saw further downside in February. Also, the University of Michigan said consumer sentiment in the U.S. fell more than expected in March.

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Crude oil prices rallied Friday afternoon, lifted by news about a missile strike at an oil storage depot in Saudi Arabian city Jeddah.

West Texas Intermediate Crude oil futures for May ended higher by $1.56 or 1.4 percent at $113.90 a barrel; they gained nearly 12 percent in the week. Source: Nasdaq



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