Thai Stock Market May Halt Losing Streak On Thursday
(RTTNews) - The Thai stock market has finished lower in two straight sessions, sliding more than a dozen points or 0.8 percent in that span. The Stock Exchange of Thailand now sits just above the 1,565-point plateau although it may stop the bleeding on Thursday.
The global forecast for the Asian markets is cautiously optimistic after the Federal Reserve left interest rates unchanged, although the upside will be limited by a spike in oil prices. The European and U.S. markets were slightly higher and the Asian bourses are likely to follow suit.
The SET finished modestly lower on Wednesday following losses among the food, consumer, industrial, resource, service and technology sectors.
For the day, the index slipped 8.92 points or 0.57 percent to finish at 1,566.10 after trading between 1,565.52 and 1,576.55. Volume was 9.943 billion shares worth 65.443 billion baht. There were 276 decliners and 151 gainers, with 217 stocks finishing unchanged.
The lead from Wall Street suggests mild upside as the major averages opened higher on Wednesday; the Dow and S&P remained in the green, while the NASDAQ bounced back and forth all day but finally ended to the upside.
The Dow rose 97.53 points or 0.19 percent to finish at 52,475.10, while the NASDAQ gained 72.04 points or 0.27 percent to end at 26,549.85 and the S&P 500 added 21.38 points or 0.28 percent to close at 7,743.98.
The higher close on Wall Street came after the Federal Reserve announced its widely expected decision to leave interest rates unchanged following its latest meeting.
The central bank's next monetary policy meeting is scheduled for December 8-9, with CME Group's FedWatch Tool currently indicating an 85.0 percent chance the Fed will raise rates by a quarter point.
Crude oil prices surged on Wednesday as reports suggest possible U.S. attacks on Iran by next week, fueling supply disruption concerns for an indefinite period. West Texas Intermediate crude for December was up $3.12 or 3.12 percent at $103.02 per barrel.







