Precise Investors

Sunday, August 7, 2022
Stocks & Shares

Thai stock market snaps two-day winning streak


The SET finished modestly lower following losses from the cement companies and mixed performances from the financial shares and energy producers

The Thai stock market on Wednesday snapped the two-day winning streak in which it had gathered almost 20 points or 1.4 percent. The Stock Exchange of Thailand (SET) now sits just above the 1,480-point plateau and it’s expected to see little movement again on Thursday.

The global forecast for the Asian markets suggests little movement on stimulus concerns and lacklustre earnings news. The European and U.S. markets were mixed and little changed and the Asian markets figure to follow that lead.

The SET finished modestly lower on Wednesday following losses from the cement companies and mixed performances from the financial shares and energy producers.

For the day, the index slid 4.50 points or 0.30 percent to finish at 1,481.75 after trading between 1,481.69 and 1,500.17.

Among the actives, Advanced Info skidded 1.16 percent, while Thailand Airport shed 0.40 percent, Asset World lost 0.42 percent, Bangkok Bank climbed 1.32 percent, Bangkok Dusit Medical retreated 1.42 percent, Bangkok Expressway declined 1.22 percent, BTS Group fell 0.53 percent, Charoen Pokphand Foods dropped 0.91 percent, Gulf sank 0.74 percent.

Kasikornbank spiked 1.91 percent, Krung Thai Bank jumped 1.71 percent, PTT surrendered 1.29 percent, PTT Exploration and Production added 0.47 percent, PTT Global Chemical gained 0.41 percent, SCG Packaging was down 0.53 percent, Siam Commercial Bank collected 2.65 percent, Siam Concrete plunged 2.35 percent, TMB Bank accelerated 1.82 percent and Bangkok Asset Management was unchanged.

The lead from Wall Street offers little clarity as stocks showed a lack of direction on Wednesday, bouncing back and forth across the unchanged line before ending mixed and little changed.

The Dow added 36.12 points or 0.12 percent to finish at 30,723.60, while the NASDAQ eased 2.23 points or 0.02 percent to end at 13,610.54 and the S&P 500 rose 3.86 points or 0.10 percent to close at 3,830.17.


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