Thai Stock Exchange may potentially end its losing streak on Thursday.
The Stock Exchange of Thailand (SET) concluded Wednesday's trading session modestly in the red, marking the second consecutive day of decline. Here are the key takeaways from the day's trading:
- The index slipped 3.23 points or 0.26 percent to close at 1,248.03. Volume on the SET was 7.996 billion shares worth 46.883 billion baht.
- The Thai stock market has dropped in two consecutive sessions, losing nearly 15 points or 1.2 percent.
- Among the notable movers, Advanced Info added 0.34 percent, while Thailand Airport lost 0.68 percent on the SET. Banpu surrendered 2.89 percent, Bangkok Bank slipped 0.32 percent, and CP All Public shed 0.56 percent.
- PTT sank 0.78 percent, PTT Exploration and Production contracted 1.76 percent, and PTT Global Chemical tanked 1.85 percent on the SET.
- The trade deficit in Thailand is pegged at $600 million following the $1.060 billion surplus a month earlier. Imports are expected to rise 4.9 percent on year, easing from 13.1 percent in June, while exports are called higher by an annual 8.2 percent, down from 15.5 percent in the previous month.
- Traders were reluctant to make big moves ahead of Friday's Commerce Department report on personal income and spending for July.
- Crude oil surged on Wednesday, with West Texas Intermediate crude for October delivery up $0.83 or 1.33 percent at $64.08 per barrel.
- The global forecast for Asian markets suggests a mild upward trend, with strength expected from the oil and technology sectors.
- CME Group's FedWatch Tool is currently indicating an 87.2 percent chance the Fed will lower rates by a quarter point at its next monetary policy meeting in September.
- Thailand is scheduled to release July figures for imports, exports, and trade balance.
- The Bank of Thailand announced on Thursday that it will intervene to stop the bleeding of the Thai stock index at the end of the day.
- No new information about any specific Thai or international stocks was provided in the paragraph. The SET is currently just below the 1,250-point plateau.
