(RTTNews.com) – The Thai stock market gave up less than a point on Friday – but that was enough to snap the four-day winning streak in which it had advanced almost 10 points or 0.6 percent. The Stock Exchange of Thailand remains just above the 1,575-point plateau and it’s expected to see little movement again on Monday.
The global forecast for the Asian markets is roughly flat amid a lack of catalysts, with a mild bump in crude oil prices limiting any downside. The European and U.S. markets were mixed and flat, and the Asian bourses figure to follow suit.
The SET finished barely changed on Friday following mixed performances from the financial share and the energy producers.
Among the actives, Advanced Info climbed 1.39 percent, while Thailand Airport shed 0.95 percent, Banpu spiked 2.38 percent, Bangkok Medical lost 0.49 percent, Charoen Pokphand Foods tumbled 1.90 percent, Kasikornbank collected 0.51 percent, Krung Thai Bank fell 0.55 percent, PTT added 0.25 percent, PTT Exploration and Production dipped 0.29 percent, PTT Global Chemical was down 0.34 percent, Siam Commercial Bank slid 0.35 percent, Siam Concrete retreated 0.82 percent and Bangkok Bank and Bangkok Expressway were unchanged.
The lead from Wall Street is murky as stocks turned mixed on Friday, after failing to sustain an early upward move.
The NASDAQ fell 5.68 points or 0.1 percent to 6,265.64, while the Dow added 30.27 points or 0.1 percent to 21,813.67 and the S&P gained 4.08 points or 0.2 percent to 2,443.05. For the week, the Dow rose 0.6 percent, NASDAQ was up 0.8 percent and the S&P gained 0.7 percent.
The early strength was due to optimism about tax reform after reports President Donald Trump would launch a public campaign to highlight the need for reform this week.
Traders also reacted to Federal Reserve Chair Janet Yellen’s remarks at the Fed’s economic policy symposium in Jackson Hole, Wyoming. She refrained from discussing monetary policy, focusing on the topic of financial stability a decade after the onset of the financial crisis.
European Central Bank President Mario Draghi also spoke at the symposium, saying the global economic recovery is “firming up.”
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