The Thai stock market has been on a downward trend over the last two sessions, losing nearly 12 points or 0.9 percent. The Stock Exchange of Thailand (SET) is currently just below the 1,390-point range and may see a slight increase on Monday.
The global forecast for the Asian markets is uncertain, as expected support from technology stocks may be offset by the weight of energy shares. European markets are down while the U.S. market is varied, and it's predicted that the Asian markets will follow the U.S. trend.
On Friday, the SET ended marginally lower as losses from the financial and industrial sectors were balanced by support from service and technology stocks. The index decreased by 0.23 points or 0.02 percent, closing at 1,388.37. The day witnessed a trading range of 1,385.02 and 1,391.75, with a volume of 9.749 billion shares worth 29.103 billion baht. Among the 229 decliners and 223 gainers, 203 stocks finished unchanged.
Looking at the active stocks, Thailand Airport rose 0.39 percent whereas Asimar surged dramatically by 30.08 percent. In contrast, Bangkok Bank dropped 0.70 percent and Bangkok Dusit Medical decreased by 0.89 percent. Meanwhile, Bangkok Expressway advanced 0.68 percent, and both SCG Packaging and True Corporation weakened by 0.78 percent.
The lead from the U.S market on Friday was mixed. The Dow dropped 54.61 points or 0.14 percent, finishing at 38,671.69. The NASDAQ however, increased by 196.96 points or 1.25 percent to end at 15,990.66, and the S&P 500 added 28.70 points or 0.57 percent to close at its record of 5,026.70.
The strength on Wall Street stemmed from a positive reaction to data from the Labor Department showing a slight decrease in consumer price growth in December, which prompted a boost in tech stocks. Outside the tech sector, brokerage and retail stocks experienced a notable increase, while energy stocks declined despite a continuous rise in crude oil prices.
Crude oil prices had an early dip on Friday but managed to end slightly higher due to ongoing Middle East tensions. West Texas Intermediate Crude oil futures for March rose $0.62 to $76.84 a barrel, marking it's fifth straight session gain. WTI crude futures experienced a 6 percent jump in the week.
