On Friday, the Thai stock market observed a downturn again, following a brief pause to a four-day losing streak that cost it almost 25 points or 1.9 percent loss. The Stock Exchange of Thailand now finds itself marginally above the 1,380-point mark with the expectation of remaining so on Monday.A global forecast suggests a mixed influence on Asian markets. Gains in tech stocks may balance the downturn from oil businesses. This mixed pattern was observed in European and U.S. markets, and is likely to apply to Asian exchanges as well.On Friday, the SET ended slightly lower due to losses in various sectors including food, industrial, property, services, resources, and technology.The index lost 6.58 points or 0.47 percent, ending at 1,381.04. During the day, the numbers fluctuated between 1,379.43 and 1,389.79. A total of 15.716 billion shares were traded, amounting to 39.326 billion baht. There were more losses than gains, with 302 decliners and 175 gainers and 176 stocks ending unchanged.Several players were active, with Advanced Info and Thailand Airport registering losses, while Asset World saw a small upward shift. Banpu suffered a significant fall, as did Bangkok Expressway, while Bangkok Bank saw a modest increase. Other notable shifts were observed in major companies like Kasikornbank, Krung Thai Bank and SCG Packaging.Wall Street’s recent performance offered little insight. On Friday, major averages opened flat but diverged swiftly, with the Dow and S&P 500 dipping while the NASDAQ edged higher. Some traders decided to capitalise on the recent market strength by selling early, leading to minor weakness.Despite some uncertainty regarding the timetable of the first rate, the likelihood of a quarter-point rate cut in June has recovered to 66.5 percent, according to the CME Group’s FedWatch Tool.Tech company Nvidia drove the NASDAQ with a 3.1 percent surge, ending the day at a record closing high.Meanwhile, oil prices dropped as the dollar sharply rose in response to the Federal Reserve’s decision to keep interest rates high for the time being. West Texas Intermediate Crude oil futures ended with a decrease for May.Prospectively, Thailand is set to release its February report on imports, exports, and trade balance. It recorded a 2.6 percent increase in imports year on year and a 10 percent increase in exports, resulting in a trade deficit of $2.760 billion last month.The material has been provided by InstaForex Company – www.instaforex.com
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