(RTTNews) – The Thai stock market has moved lower in three consecutive trading days, sliding almost 15 points or 0.9 percent along the way. The Stock Exchange of Thailand remains just beneath the 1,660-point plateau although it may find mild traction on Monday.
The global forecast for the Asian markets is cloudy, with little movement expected as firm crude oil prices figure to prevent too much damage. The European and U.S. markets were mixed and little changed on Friday and the Asian markets are expected to follow that lead.
The SET finished modestly lower on Friday following losses form the financial share and the energy producers.
For the day, the index dropped 11.44 points or 0.68 percent to finish at 1,659.05 after trading between 1,658.26 and 1, 670.29. Volume was 11.786 billion shares worth 64.498 billion baht. There were 952 decliners and 438 gainers, with 329 stocks finishing unchanged.
Among the actives, Advanced Info shed 0.52 percent, while Thailand Airport skidded 2.11 percent, Banpu spiked 2.35 percent, Bangkok Bank lost 0.80 percent, Bangkok Medical fell 0.48 percent, Charoen Pokphand Food retreated 0.91 percent, Kasikornbank tumbled 1.90 percent, PTT plummeted 1.93 percent, PTT Exploration and Production plunged 2.03 percent, PTT Global Chemical dipped 0.46 percent, Siam Concrete was down 0.79 percent and Siam Commercial Bank, Krung Thai Bank and Bangkok Expressway were unchanged.
The lead from Wall Street is uninspired as stocks were lackluster on Friday, hovering near the unchanged line before ending mixed.
The Dow shed 9.64 points or 0.04 percent to 22.349.59, while the NASDAQ added 4.23 points or 0.07 percent to 6,426.92 and the S&P gained 1.62 points or 0.06 percent to 2,502.22. For the week, the NASDAQ eased 0.3 percent, the Dow rose 0.4 percent and the S&P added 0.1 percent.
The choppy trading reflected geopolitical concerns amid an escalating war of words between North Korean leader Kim Jong Un and President Donald Trump. Also, North Korean Foreign Minister Ri Yong Ho said his country may consider testing a hydrogen bomb in the Pacific Ocean.
Crude oil prices inched higher Friday, preserving weekly gains as OPEC met in Vienna to discuss output cuts. November oil rose 11 cents to $50.66 a barrel for a weekly gain over 0.4 percent.
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