The Thai stock market experienced an uptick on Wednesday, recovering from a previous decline that ended a five-day winning streak, which had collectively gained over 40 points, or 3 percent. The Stock Exchange of Thailand (SET) now sits just above the 1,365-point mark, but indications suggest a potential downturn on Thursday.The global outlook for Asian markets is mixed and generally flat, pending significant inflation data. European markets showed mixed results, while U.S. indices moved downward; thus, Asian markets are anticipated to exhibit a median response.On Wednesday, the SET saw marginal gains, propelled by the food, service, and technology sectors, though these were tempered by losses in the resource and industrial segments.For the trading day, the index rose by 1.41 points, or 0.10 percent, to close at 1,365.72, fluctuating between 1,356.51 and 1,370.67. Trading volume reached 9.040 billion shares, valued at 43.114 billion baht. The market saw 281 decliners, 191 gainers, and 185 stocks remained unchanged.Key active stocks included: Advanced Info surged by 1.21 percent. Asset World fell by 2.72 percent. Bangkok Bank gained 0.35 percent. Bangkok Dusit Medical increased by 0.90 percent. B. Grimm dropped by 1.42 percent. BTS Group decreased by 0.46 percent. CP All Public rose by 0.84 percent. Energy Absolute declined by 0.69 percent. Gulf increased by 0.99 percent. Both Krung Thai Bank and TTB Bank added 0.54 percent. Krung Thai Card climbed by 1.17 percent. PTT plunged by 3.62 percent. PTT Exploration and Production fell by 1.38 percent. SCG Packaging tumbled by 1.78 percent. Siam Commercial Bank gained 0.47 percent. Siam Concrete improved by 0.45 percent. Thai Oil dropped by 0.93 percent. True Corporation advanced by 0.97 percent. Charoen Pokphand Foods, Kasikornbank, PTT Global Chemical, Banpu, PTT Oil & Retail, Thailand Airport, and Bangkok Expressway saw no change. Wall Street provided a negative lead, with major averages opening lower and maintaining a downward trend throughout the trading day.The Dow Jones Industrial Average slipped by 159.08 points, or 0.39 percent, to close at 41,091.42. The NASDAQ Composite declined by 198.79 points, or 1.12 percent, ending at 17,556.03. The S&P 500 fell by 33.62 points, or 0.60 percent, to conclude at 5,592.18.This weakness on Wall Street stemmed partly from investor anxiety ahead of Nvidia’s (NVDA) fiscal second-quarter results, released after the market closed. Nvidia posted better-than-expected profits, exceeding last year’s figures.Additionally, market pressures were influenced by anticipation of Friday’s Commerce Department report on July’s personal income and spending, which includes inflation metrics favored by the Federal Reserve. Though the data may not alter expectations that the Fed will lower rates next month, it could affect predictions about the pace of future rate cuts.Crude oil futures saw a decline on Wednesday, driven by concerns over global oil demand and a smaller-than-expected reduction in U.S. crude oil inventories. West Texas Intermediate crude oil futures for October fell by $1.01, or 1.34 percent, to $74.52 a barrel.The material has been provided by InstaForex Company – www.instaforex.com
- U.S. Import Prices Dip Slightly More Than Expected In August - September 13, 2024
- Tenon Medical Prices $4.5 Mln Public Offering Of Shares, Pre-market Stock Soars Over 177% - September 13, 2024
- Kaixin: Nasdaq Panel Grants Temporary Exception To Bid Price Rule - September 13, 2024
