The Thai stock market has rebounded in two out of the past three trading sessions after experiencing a two-day decline, during which it dropped nearly 15 points, or 1 percent. The Stock Exchange of Thailand (SET) currently stands slightly above the 1,330-point mark; however, projections suggest a downturn on Monday.
The global outlook for Asian markets appears bleak, influenced by Friday’s U.S. jobs report, which has introduced uncertainty regarding future interest rate trends. Both European and U.S. markets posted modest losses, and it's anticipated that Asian markets will follow this trend.
On Friday, the SET saw a slight rise, driven by gains in sectors such as food, consumption, finance, resources, and technology. The index advanced by 4.33 points, or 0.33 percent, closing at 1,332.74, with trading oscillating between 1,325.95 and 1,334.12. The trading volume was 11.556 billion shares, valued at 40.330 billion baht. The session concluded with 278 gainers, 197 decliners, and 175 stocks remaining unchanged.
Notable performers included Advanced Info, which increased by 1.44 percent, while Asset World declined by 0.55 percent. Bangkok Bank and Bangkok Dusit Medical saw decreases of 0.37 percent and 0.91 percent respectively. B. Grimm and Gulf each climbed 1.26 percent, while BTS Group dropped 0.81 percent. Charoen Pokphand Foods gained 1.34 percent, and Energy Absolute rose by 0.47 percent. Other significant movements included Krung Thai Bank's 2.91 percent surge, and PTT Oil & Retail's 1.15 percent drop. PTT added 0.78 percent, and PTT Exploration and Production grew by 0.66 percent. PTT Global Chemical saw a significant plunge of 2.96 percent, while other stocks such as Siam Commercial Bank, Siam Concrete, and Thai Oil had varied performances.
From Wall Street, the indicators turned soft as major averages opened lower on Friday, rebounded at midday, but ultimately faced mild losses by the close. The Dow Jones Industrial Average decreased by 87.21 points, or 0.22 percent, finishing at 38,798.99. The NASDAQ Composite fell by 39.97 points, or 0.23 percent, ending at 17,133.12, while the S&P 500 declined by 5.97 points, or 0.11 percent, to close at 5,346.99.
For the week, the NASDAQ surged by 2.4 percent, the S&P 500 rose by 1.3 percent, and the Dow increased by 0.3 percent. The volatile trading on Wall Street was a response to the Labor Department's highly anticipated monthly jobs report, which indicated a higher-than-expected increase in employment for May but also an unexpected rise in the unemployment rate.
Oil futures ended flat on Friday amid concerns the Federal Reserve might maintain higher interest rates for a more extended period, following the robust U.S. non-farm payroll report for May. West Texas Intermediate (WTI) Crude oil futures for July ended at $75.53 per barrel, a minor dip of $0.02. Over the week, WTI crude futures declined by approximately 2 percent.
