Steady start expected for Thai stock market

The Thai stock market has ended lower in five consecutive sessions, falling more than 25 points, or 1.5 percent, along the way. Thailand’s stock market is now just below the 1,665 plateau and is likely to see little movement again on Monday.

The global forecast for the Asian markets is mixed to lower due to ongoing concerns about the interest rate outlook. European markets fell and US stock markets were mixed and Asian markets are expected to share the difference.

The SET ended modestly lower on Friday as financial stocks and energy companies were largely in the red.

During the day, the index fell 4.60 points, or 0.28 percent, to finish at 1,664.57 after trading between 1,660.10 and 1,668.97. The volume was 16.293 billion shares worth 58.927 billion baht. There were 992 fallers and 488 risers, while 509 stocks ended unchanged.

Among the active, Advanced Info rose 3.26 percent, Thailand Airport lost 0.69 percent, Bangkok Bank jumped 1.86 percent, Bangkok Dusit Medical fell 0.86 percent, BTS Group fell 1.21 percent, CP All Public fell 0 .37 percent, Energy Absolute fell 1.13 percent, Gulf advanced 0.94 percent, Kasikornbank slipped 1.04 percent, Krung Thai Card fell 0.43 percent, PTT Oil & Retail lost 0.46 percent, PTT Exploration and Production rose 0.31 percent, Siam Commercial Bank lost 2.90 percent, Thai Oil fell 0.44 percent and TTB Bank, Banpu, B. Grimm, PTT, Krung Thai Bank, Siam Concrete and Bangkok Expressway were unchanged .

Wall Street’s lead is inconsistent as key averages opened lower on Friday, though only NASDAQ ended the session in the red.

The Dow rose 169.37 points or 0.50 percent to finish at 33,869.27, while the NASDAQ fell 71.48 points, or 061 percent, to finish at 11,718.12 and the S&P 500 rose 8.96 points, or 0. 22 percent to close at 4,090.46.

During the week, the NASSDAQ fell 2.4 percent, the S&P lost 1.1 percent and the Dow fell 0.2 percent.

The choppy trading on Wall Street reflected continued uncertainty about the outlook for interest rates ahead of this week’s closely watched inflation data.

Traders also reacted to mixed February consumer confidence data released by the University of Michigan. While consumer confidence continued to improve in February, the report also showed a rebound in near-term inflation expectations.

Crude oil futures rose sharply Friday on continued optimism about increased fuel demand from China and Russia’s moves to cut oil production next month. West Texas Intermediate Crude oil futures for March ended higher by $1.66 or 2.1 percent at $79.72 a barrel. WTI crude oil futures rose 9 percent this week.

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