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Thai stock market could return Friday's gains
Thailand's stock market rebounded again on Friday, one session after ending a two-day winning streak in which it gained more than 7 points, or 0.6 percent. The Thai Stock Exchange now sits just above the 1,300-point plateau, although it is expected to head south again on Monday.
Global forecast for Asia markets is weak, with oil and technology stocks likely to weigh on the markets. European markets were down and US stock markets were mixed and flat with Asian markets expected to split the difference.
The SET ended slightly higher on Friday following gains in the food, consumer, financial, industrials, real estate and resources sectors, while the technology stocks were weak.
For the day, the index added 8.12 points or 0.63 percent to end at 1,306.41 after trading between 1,289/21 and 1,311.31. The volume was 16.318 billion shares worth 56.556 billion baht. There were 432 stocks up and 89 down, and 134 stocks finished unchanged.
Among assets, Thailand Airport lost 0.82 percent, while Asset World jumped 1.69 percent, Banpu climbed 1.00 percent, Bangkok Bank strengthened 1.00 percent, 54 percent, Bangkok Dusit Medical lost 0.96 percent, B. Grimm climbed 3.37 percent, BTS Group gathered 1.33 percent, CP All. Public rose 0.46 percent, Charoen Pokphand Foods rose 0.45 percent, Energy Absolute climbed 3.41 percent, Gulf rose 3.21 percent, Kasikornbank added 0.40 percent. cent, Krung Thai Card plunged 2.91 percent, PTT Oil & Retail improved 1.25 percent, PTT fell 0.78 percent, PTT Exploration. and production gained 0.66 percent, PTT Global Chemical jumped 4.24 percent, SCG Packaging sank 0.74 percent, Siam Commercial Bank collected 0.47 percent, Siam Concrete advanced by 0.90 percent, Thai Oil fell 0.95 percent, True Corporation fell 1.73 percent, TTB Bank accelerated 2.44 percent and Krung Thai Bank, Advanced Info and Bangkok Expressway remained unchanged.
Wall Street's lead is small, as the major averages opened lower on Friday and ultimately finished mixed, but with little change.
The Dow added 15.53 points or 0.04 percent to end at 39,150.33, while the NASDAQ lost 32.24 points or 0.18 percent to end at 17,689.36 and the S&P 500 fell 8.55 points or 0.16 percent to close at 5,464.62.
For the holiday-shortened week, the Dow jumped 1.5 percent and the S&P 500 rose 0.6 percent, while the NASDAQ was virtually unchanged.
The choppy trading on Wall Street came as traders assessed recent market activity, which saw the NASDAQ and S&P 500 hit new intraday record highs before falling.
Traders have also been keeping an eye on Nvidia (NVDA) stock, as the AI darling has been a key mover in the markets recently. It dragged tech stocks lower after falling 3.2% on Friday after briefly overtaking Microsoft (MSFT) as the world's most valuable public company.
On the economic front, the National Association of Realtors said U.S. existing home sales fell roughly in line with May estimates. A separate report from the Conference Board said major U.S. economic indicators fell more than expected last month.
Oil futures fell on Friday, weighed down by concerns about the outlook for global oil demand and the strength of the greenback. West Texas Intermediate crude oil futures for July lost $0.56 or 0.7 percent to $80.73 a barrel for the week, but gained 3 percent for the week.
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