The Thai stock market has exhibited a downward trend for four consecutive sessions, with almost a 1.9 percent decrease, translating to a slump by about 25 points. The Stock Exchange of Thailand is now hovering just above the 1,370-point mark and it is predicted to stabilize on Thursday.The global forecast for Asian markets is largely positive, fuelled by increased optimism regarding the future of interest rates. European markets exhibited a mixed and flat performance. However, U.S. bourses sharply increased, a trend that is expected to influence Asian markets.The Stock Exchange of Thailand (SET) closed moderately lower on Wednesday due to losses from various sectors, including food, consumption, finance, industrial, property, resources, and technology.On Wednesday, the trading day ended with the index losing 9.28 points or 0.67 percent, closing at 1,373.18 after fluctuating between 1,372.28 and 1,386.67. Trading volume reportedly included 17.079 billion shares worth 54.666 billion baht. There were 353 decliners and 140 gainers, with 156 stocks remaining unchanged.Key players such as Advanced Info and Banpu experienced minor losses, whereas companies such as Thailand Airport and BTS Group saw slight gains. Several other companies also witnessed a varying range of shifts in their stock performance.Wall Street ended positively, with major averages exhibiting a late surge that elevated them into the green and to record closing highs. The Dow Jones Industrial Average saw a growth of 1.03 percent, finishing at 39,512.13. Similarly, NASDAQ and S&P 500 too witnessed an uptick.This surge came as a direct result of the Fed’s highly anticipated call to leave the interest rates unchanged, coupled with the forecast of three rate cuts in this year – a decision that had previously been a matter of speculation. The expectation is for rates to lower to a range of 4.50 to 4.75 percent by the end of 2024.However, crude oil prices witnessed a sharp decrease as traders chose to leverage profits following recent gains. A strong dollar also affected the oil prices negatively. West Texas Intermediate Crude oil futures for April fell by $1.79 or 2.1 percent to close at $81.68 per barrel.The material has been provided by InstaForex Company – www.instaforex.com
- Russia’s GDP Monthly Growth Slows to 4.2% in March 2024 - April 27, 2024
- Russia’s Unemployment Rate Drops Slightly to 2.7% in March 2024 - April 27, 2024
- Russian Real Wage Growth Surges to 10.8% in February 2024 - April 27, 2024