Thai Stock Market Expected To Open In The Red Again On Monday

(RTTNews) - The Thai stock market has moved lower in consecutive trading days, falling more than 25 points or 2 percent along the way. The Stock Exchange of Thailand now sits just beneath the 1,220-point plateau and it's likely in for a rough ride again on Monday.

The global forecast for the Asian markets is broadly negative on new U.S. tariffs, plus an extremely weak American jobs report. The European and U.S. markets were sharply lower and the Asian bourses figure to follow that lead.

The SET finished sharply lower on Friday following losses from the consumer, finance, industrial, property, resource, service and technology sectors.

For the day, the index dropped 24.02 points or 1.93 percent to finish at 1,218.33 after trading between 1,217.37 and 1,255.39. Volume was 10.667 billion shares worth 54.586 billion baht. There were 322 decliners and 143 gainers, with 184 stocks finishing unchanged.

Among the actives, Advanced Info dropped 1.03 percent, while Thailand Airport was down 3.66 percent, Asset World surrendered 2.86 percent, Banpu contracted 2.57 percent, Bangkok Bank collected 0.34 percent, Bangkok Dusit Medical fell 2.79 percent, Bangkok Expressway slid 2.70 percent, B. Grimm cratered 5.13 percent, BTS Group dipped 1.70 percent, CP All Public lost 5.29 percent, Charoen Pokphand Foods rallied 2.63 percent, Energy Absolute retreated 2.76 percent, Gulf crashed 4.23 percent, Kasikornbank dropped 0.93 percent, Krung Thai Bank added 0.45 percent, Krung Thai Card stumbled 2.63 percent, PTT Oil & Retail plummeted 5.04 percent, PTT declined 3.01 percent, PTT Exploration and Production weakened 1.98 percent, SCG Packaging plunged 4.81 percent, Siam Commercial Bank slumped 1.19 percent, Siam Concrete tumbled 1.99 percent, Thai Oil shed 2.17 percent, True Corporation sank 0.96 percent, TTB Bank skidded 1.04 percent and PTT Global Chemical was unchanged.

The lead from Wall Street is brutal as the major averages opened sharply lower on Friday and remained deep in the red throughout the session.

The Dow tumbled 542.42 points or 1.23 percent to finish at 43,588.58, while the NASDAQ tanked 472.27 points or 2.24 percent to close at 20,650.13 and the S&P 500 dropped 101.38 points or 1.60 percent to end at 6,238.01.

For the week, the Dow plummeted 2.9 percent, while the S&P sank 2.4 percent and the NASDAQ was down 2.2 percent.

The sell-off on Wall Street came amid concerns about the economic impact of President Donald Trump's tariffs, as the White House announced new tariff rates on dozens of countries.

The new tariffs range from just 10 percent to as high as 41 percent, and the White House said a 40 percent levy will be imposed on goods that have been transshipped to evade applicable duties.

Negative sentiment was also generated in reaction to the closely watched Labor Department report showing much weaker than expected job growth in the month of July.

Crude oil prices fell Friday on demand concerns for potentially reduced consumption amid new tariffs from the U.S. government. West Texas Intermediate crude for September delivery was down $1.92 or 2.77 percent at $67.34 per barrel.