Renewed Selling Pressure Tipped For Thai Stock Market

The Thai stock market has alternated between positive and negative finishes through the last six trading days since the end of the two-day winning streak in which it had gained almost 5 points or 0.3 percent. The Stock Exchange of Thailand remains just above the 1,570-point plateau although it’s likely to turn lower again on Friday.

The global forecast for the Asian markets is broadly negative as tensions continue to escalate between North Korea and the United States. The European and U.S. markets were down and the Asian markets are expected to follow suit.

The SET finished barely higher on Thursday following mixed performances from the financials and energy producers.

For the day, the index added 0.13 points or 0.01 percent to finish at 1,571.64 after trading between 1,566.45 and 1,573.11. Volume was 8.010 billion shares worth 33.209 billion baht. There were 705 decliners and 444 gainers, with 374 stocks finishing unchanged.

Among the actives, Advanced Info shed 0.82 percent, while Thailand Airport jumped 0.94 percent, Banpu lost 0.58 percent, Bangkok Bank collected 0.28 percent, Bangkok Medical fell 0.52 percent, Charoen Pokphand Foods surged 3.85 percent, Kasikornbank added 0.26 percent, Krung Thai Bank dipped 0.56 percent, PTT was down 0.52 percent, PTT Exploration and Production slid 0.58 percent, PTT Global Chemical eased 0.35 percent, Siam Commercial Bank gave away 0.69 percent and Bangkok Expressway was unchanged.

The lead from Wall Street is weak as stocks moved sharply lower on Thursday as the NASDAQ and S&P 500 fell to their lowest closing levels in a month.

The Dow lost 204.69 points or 0.9 percent to 21,844.01, while the NASDAQ fell 135.46 points or 2.1 percent to 6,216.87 and the S&P dipped 35.81 points or 1.5 percent to 2,438.21.

Geopolitical concerns continued to weigh amid escalating tensions between the U.S. and North Korea. President Trump further ratcheted up the rhetoric, suggesting that his “fire and fury” comments may not have been tough…

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