(RTTNews) – The Thai stock market on Thursday snapped the two-day winning streak in which it had gathered more than 20 points or 1.2 percent. The Stock Exchange of Thailand remains just beneath the 1,715-point plateau, and it may take further damage on Friday.
The global forecast for the Asian markets is soft, thanks to a decline in crude oil prices and expected profit taking. The European and U.S. markets were slightly lower and the Asian markets figure to follow suit.
The SET finished barely lower on Thursday following mixed performances from the financial shares and the energy producers.
For the day, the index eased 1.66 points or 0.10 percent to finish at 1,712.48 after trading between 1,709.57 and 1,719.60. Volume was 16.597 billion shares worth 65.105 billion baht. There were 663 decliners and 623 gainers, with 421 stocks finishing unchanged.
Among the actives, Advanced Info added 0.52 percent, while Thailand Airport skidded 1.27 percent, Banpu shed 0.56 percent, Bangkok Bank fell 0.53 percent, Bangkok Medical advanced 0.96 percent, Bangkok Expressway climbed 1.27 percent, Charoen Pokphand Foods tumbled 1.87 percent, Kasikornbank dipped 0.46 percent, Krung Thai Bank collected 1.05 percent, PTT plunged 1.40 percent, PTT Exploration and Production perked 0.82 percent, PTT Global Chemical retreated 1.81 percent, Siam Commercial Bank was up 0.66 percent and Siam Concrete gave away 0.40 percent.
The lead from Wall Street is negative as stocks showed a lack of direction on Thursday before closing modestly lower.
The Dow shed 31.88 points or 0.14 percent to 22,842.01, while the NASDAQ dipped 12.04 points or 0.18 percent to 6,591.51 and the S&P eased 4.31 points or 0.17 percent to 2,550.93.
The lower close was due to profit taking following recent gains, while earnings news in the financial sector also weighed despite coming in better than expected.
In economic news, the Labor Department said producer prices increased in line with estimates in September. A separate report showed first-time claims for unemployment benefits fell more than expected in the week ended October 7th.
Crude oil futures slipped Thursday but pared early losses after data showed U.S. oil inventories fell last week. WTI light sweet crude oil slid 70 cents or 1.4 percent to $50.60/bbl.
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