The Thai stock market has exhibited a rising trend over consecutive trading sessions, amassing over a dozen points or 0.9 percent in gains. Currently, the Stock Exchange of Thailand (SET) is positioned slightly above the 1,380-point mark, with indications of a soft opening on Monday.
The global outlook for Asian markets is uncertain, with anticipated profit-taking likely to limit any potential gains. European markets displayed weak performance, while U.S. markets were mixed and largely unchanged, suggesting that Asian markets might follow a similar pattern.
On Friday, the SET ended modestly higher, driven by advances in the consumption, industrial, services, and technology sectors. The index increased by 4.96 points or 0.36 percent, closing at 1,382.68 after fluctuating between 1,376.79 and 1,384.82. The trading volume reached 11.362 billion shares, valued at 40.256 billion baht. The market saw 276 gainers, 190 decliners, and 199 stocks that remained unchanged.
Among active stocks, Advanced Info gained 0.48 percent, Thailand Airport surged 1.52 percent, while Asset World declined by 1.46 percent. Bangkok Dusit Medical advanced 0.86 percent, B. Grimm dropped 0.93 percent, and CP All Public decreased by 0.42 percent. Energy Absolute fell 1.85 percent, Gulf declined 0.59 percent, and Kasikornbank rose 0.37 percent. Both Krung Thai Card and TTB Bank shed 0.57 percent, PTT dipped 0.74 percent, and PTT Exploration and Production decreased by 0.32 percent. PTT Global Chemical soared 4.14 percent, SCG Packaging skyrocketed 7.20 percent, Siam Commercial Bank gained 0.47 percent, and Siam Concrete improved by 0.80 percent. Thai Oil strengthened 1.46 percent, while True Corporation surged 2.94 percent. Charoen Pokphand Foods, Bangkok Bank, Krung Thai Bank, Banpu, PTT Oil & Retail, Bangkok Expressway, and BTS Group remained unchanged.
Wall Street provided little clear direction, with major averages opening mixed and relatively flat, ending the session in a similar state. The Dow Jones Industrial Average rose 134.19 points or 0.34 percent to a record 40,003.59, the NASDAQ slipped 12.33 points or 0.07 percent to 16,685.97, and the S&P 500 added 6.17 points or 0.12 percent to finish at 5,303.27. For the week, the NASDAQ surged 2.1 percent, the S&P 500 increased 1.5 percent, and the Dow advanced 1.2 percent.
The mixed trading activity on Wall Street reflected traders' hesitation to make significant moves as they evaluate the recent strength in the markets, which have been reaching new record highs.
In economic news, the Conference Board reported a continued decline in its leading U.S. economic indicators for April.
Oil prices advanced on Friday due to easing inflation, declining inventories, and optimism for interest rate cuts. West Texas Intermediate (WTI) Crude oil futures for June rose to $80.06 per barrel, gaining $0.79 or over 1 percent. WTI crude futures achieved a 2.3 percent increase for the week.
Looking domestically, Thailand is set to release its Q1 GDP figures later today, with expectations of a 0.6 percent quarter-on-quarter rise and a 0.8 percent year-on-year increase. This follows a 0.6 percent quarterly contraction and a 1.7 percent annual gain in the preceding three months.
