(RTTNews) – The Thai stock market on Friday snapped the two-day slide wherein it had stumbled greater than 30 factors or 2.2 p.c. The Stock Trade of Thailand now rests simply above the 1,330-point plateau though it figures to go south once more on Monday.
The worldwide forecast for the Asian markets is smooth on spiking Covid-19 circumstances and poor outcomes from bank stress checks. The European markets had been combined and the U.S. bourses had been sharply decrease and the Asian markets determine to observe the latter lead.
The SET completed barely larger on Friday following good points from the meals and cement stocks, whereas the financials had been down and the vitality producers had been combined.
For the day, the index rose 4.46 factors or 0.34 p.c to complete at 1,330.34 after buying and selling between 1,328.49 and 1,344.04. Quantity was 12.821 billion shares worth 47.193 billion baht. There have been 723 decliners and 539 gainers, with 412 stocks ending unchanged.
Among the many actives, Superior Data shed 0.80 p.c, whereas Asset World added 0.53 p.c, Banpu dropped 0.82 p.c, Bangkok Bank sank 0.92 p.c, Bangkok Expressway misplaced 0.52 p.c, Charoen Pokphand Meals soared 3.25 p.c, Kasikornbank skidded 1.36 p.c, Krung Thai Bank retreated 0.97 p.c, PTT fell 0.67 p.c, PTT Exploration and Manufacturing jumped 1.37 p.c, PTT World Chemical declined 0.55 p.c, Siam Business Bank tumbled 1.71 p.c, Siam Concrete spiked 1.94 p.c, TMB Bank was down 0.94 p.c and BTS Group, Thailand Airport and Bangkok Dusit Medical had been unchanged.
The lead from Wall Street is broadly unfavorable as stocks opened sharply decrease on Friday and stayed that means all through the session.
The Dow plummeted 730.05 factors or 2.84 p.c to complete at 25,015.55, whereas the NASDAQ tumbled 259.78 factors or 2.59 p.c to finish at 9,757.22 and the S&P 500 sank 74.71 factors or 2.42 p.c to shut at 3,009.05.
The weak spot on Wall Street was due largely to a pointy surge in new Covid-19 infections in a number of states, elevating fears of re-imposing restrictions on companies. The U.S. Facilities of Illness Management and Prevention has warned that the variety of contaminated individuals within the U.S. is probably 10 occasions larger than what has been formally reported.
Financials turned decrease after the Fed launched the outcomes of stress checks on banks – which mentioned the nation’s greatest banks are wholesome however might endure as much as $700 billion in losses on soured loans if the economic system languishes. It additionally ordered sure banks to cap dividends to preserve funds.
Crude oil futures settled decrease on Friday, weighed down by issues over vitality demand outlook within the wake of sharp spikes in new coronavirus infections in a number of states within the U.S. West Texas Intermediate Crude oil futures for August ended down $0.23 or 0.6 p.c at $38.49 a barrel.
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