The Thai stock market could head south again on Thursday


(RTTNews) – The Thai stock market ended a four-day losing streak on Wednesday in which it fell more than 80 points or 5.1%. Thailand’s stock market now sits just above the 1,590 point plateau, although it sees a resumption of consolidation on Thursday.

Global forecasts for Asian markets are low in the face of lockdown issues resulting from the Omicron strain of COVID-19. European markets were up and US stock markets were down sharply and Asian markets should follow this latest lead.

SET ended sharply higher on Wednesday following gains from financial stocks and energy producers.

For the day, the index jumped 22.12 points or 1.41% to end at 1,590.81 after trading between 1,563.04 and 1,591.86. The volume was 31.095 billion shares worth 93.864 billion baht. There were 1,088 winners and 659 losers, with 501 shares ending unchanged.

Among assets, Advanced Info grew 2.43%, while Thailand Airport and Charoen Pokphand Foods both added 0.42%, Bangkok Bank grew 2.21%, Bangkok Dusit Medical grew 0.90 %, Bangkok Expressway lost 0.59%, CP All Public gained 0.85%, Energy Absolute fell 2.13%, Gulf jumped 1.91%, IRPC accelerated 2.14% , Kasikornbank collected 2.27%, Krung Thai Bank rose 2.65%, Krung Thai Card rose 0.93%, PTT rose 3.52%, PTT Exploration and Production jumped 3.96 %, PTT Global Chemical grew 1.78%, SCG Packaging rose 0.81%, Siam Commercial Bank strengthened 3.28%, Siam Concrete rose 1.08%, True Corporation gained 1 , 77%, TTB Bank increased by 0.84% ​​and BTS Group and PTT Oil & Retail remained unchanged.

Wall Street’s lead turned out to be negative overall, as major averages opened sharply higher on Wednesday, but then dipped deep into the red in the final hour of trading.

The Dow Jones plunged 461.68 points or 1.34% to close at 34,022.04, while the NASDAQ fell 283.64 points or 1.83% to close at 15,254.05 and the S&P 500 lost 53.96 points or 1.18% to finish at 4,513.04.

The substantial slowdown on Wall Street came after the Center for Disease Control and Prevention revealed that the first confirmed case of Covid-19 caused by the new Omicron variant has been detected in the United States

“The individual, who was fully vaccinated and had mild symptoms that are improving, is in self-quarantine and has since tested positive,” the CDC said. “All close contacts have been contacted and have tested negative.”

Traders largely ignored the latest US economic news, including a report from the ADP payroll processor showing private sector employment grew more than expected in November. Additionally, the Institute for Supply Management said manufacturing activity grew at a slightly faster pace last month.

Crude oil prices showed a strong uptrend in early trading on Wednesday, but came under pressure during the session following the news of the Omicron deal. Crude for January delivery fell $ 0.61 or 0.9% to $ 65.57 a barrel, its lowest closing level in three months.

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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