Lower Open Called For Thai Stock Market
9/9/2014 10:55 PM ET
The Thai stock market on Tuesday halted the modest two-day winning streak in which it had collected more than 5 points or 0.3 percent. The Stock Exchange of Thailand remained just below the 1,585-point plateau, and the market may see additional consolidation on Wednesday.
The global forecast for the Asian markets suggests consolidation, with investors expected to lock in gains following recent strength. The European and U.S. markets ended lower, and the Asian markets are tipped to follow suit.
The SET finished barely in the red following losses from the financial shares and cement stocks, plus a mixed performance from the energy producers.
For the day, the index eased 1.59 points or 0.10 percent to finish at 1,583.18 after trading between 1,580.59 and 1,589.87. Volume was 13.620 billion shares worth 56.254 billion baht. There were 468 decliners and 311 gainers, with 209 stocks finishing unchanged.
Among the actives, coal miner Banpu plunged 5.15 percent, while Bangkok Bank shed 0.47 percent, Kasikornbank tumbled 2.48 percent, energy giant PTT surged 4.19 percent, PTT Exploration and Production added 0.30 percent, PTT Global Chemical fell 0.79 percent, Siam Commercial Bank lost 1.04 percent and Siam Concrete declined 1.30 percent.
The lead from Wall Street is soft as stocks moved lower on Tuesday after ending the previous session mixed. With the losses on the day, the S&P 500 pulled back further off last Friday's record closing high.
Lower Open Called For Thai Stock Market
9/9/2014 10:55 PM ET
The Thai stock market on Tuesday halted the modest two-day winning streak in which it had collected more than 5 points or 0.3 percent. The Stock Exchange of Thailand remained just below the 1,585-point plateau, and the market may see additional consolidation on Wednesday.
The global forecast for the Asian markets suggests consolidation, with investors expected to lock in gains following recent strength. The European and U.S. markets ended lower, and the Asian markets are tipped to follow suit.
The SET finished barely in the red following losses from the financial shares and cement stocks, plus a mixed performance from the energy producers.
For the day, the index eased 1.59 points or 0.10 percent to finish at 1,583.18 after trading between 1,580.59 and 1,589.87. Volume was 13.620 billion shares worth 56.254 billion baht. There were 468 decliners and 311 gainers, with 209 stocks finishing unchanged.
Among the actives, coal miner Banpu plunged 5.15 percent, while Bangkok Bank shed 0.47 percent, Kasikornbank tumbled 2.48 percent, energy giant PTT surged 4.19 percent, PTT Exploration and Production added 0.30 percent, PTT Global Chemical fell 0.79 percent, Siam Commercial Bank lost 1.04 percent and Siam Concrete declined 1.30 percent.
The lead from Wall Street is soft as stocks moved lower on Tuesday after ending the previous session mixed. With the losses on the day, the S&P 500 pulled back further off last Friday's record closing high.
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