The Thai stock market has experienced fluctuating performances over the last four trading days, during which it gained over 40 points or approximately 3 percent. Currently, the Stock Exchange of Thailand (SET) rests just below the 1,360-point mark and may anticipate modest upward movement on Monday.
The global outlook for Asian markets is positive, driven by optimism regarding future interest rates. While European markets closed slightly lower, U.S. indices rose, suggesting that Asian markets might follow the upward trend seen in the United States.
On Friday, the SET closed slightly higher, with gains in sectors such as services, technology, and property being counterbalanced by declines in financials, industrials, and resource companies. The index increased by 1.66 points or 0.12 percent, ending at 1,359.07, after fluctuating between 1,355.46 and 1,367.09. Trading volume reached 9.963 billion shares, valued at 60.077 billion baht. There were 284 gainers, 191 decliners, and 187 stocks remained unchanged.
In terms of specific stocks: Advanced Info gained 0.41 percent; Asset World plummeted 5.14 percent; Bangkok Bank declined 0.70 percent; Bangkok Expressway fell 2.55 percent; B. Grimm dropped 1.46 percent; BTS Group slipped 0.93 percent; CP All Public rose 1.26 percent; Charoen Pokphand Foods decreased 0.40 percent; Energy Absolute fell 1.49 percent; Gulf dipped 0.49 percent; Kasikornbank decreased 0.35 percent; Krung Thai Bank fell 2.14 percent; Krung Thai Card dropped 2.34 percent; PTT Oil & Retail slipped 0.64 percent; PTT Exploration and Production declined 0.35 percent; SCG Packaging decreased 1.62 percent; Siam Commercial Bank fell 0.47 percent; Siam Concrete surged 2.68 percent; Thai Oil dropped 1.40 percent; True Corporation advanced 0.98 percent; TTB Bank decreased 0.54 percent. PTT Global Chemical, Banpu, PTT, Bangkok Dusit Medical, and Thailand Airport stocks remained unchanged.
Taking a cue from Wall Street: major indices opened higher on Friday, faced midday declines, but rebounded strongly towards the end of the session. The Dow Jones Industrial Average climbed 228.03 points or 0.55 percent to a record close of 41,563.08. Meanwhile, the NASDAQ surged 197.20 points or 1.13 percent to 17,713.62, and the S&P 500 rose 56.44 points or 1.01 percent to finish at 5,648.40. Over the week, the NASDAQ fell 0.9 percent, the Dow gained 0.9 percent, and the S&P 500 increased by 0.2 percent.
The positive close on Wall Street followed a Commerce Department report on U.S. consumer price inflation, which is closely watched by the Federal Reserve. The report indicated that consumer prices rose in line with estimates for July, while the annual rate of price growth remained unexpectedly flat.
This data has reinforced expectations for a potential interest rate cut by the Federal Reserve this month. However, traders remain uncertain about the pace of rate cuts, leading to market volatility. According to CME Group's FedWatch Tool, there is a 69.5 percent likelihood of a quarter-point rate cut next month and a 30.5 percent chance of a half-point rate cut.
In the commodities market, crude oil prices fell significantly on Friday following reports that OPEC plans to proceed with an oil output increase starting in October. West Texas Intermediate crude for October delivery dropped $2.36 or 3.1 percent, settling at $73.55 per barrel.
