(RTTNews) – The Thai stock market has finished lower in five straight sessions, skidding more than 30 points or 1.9 percent along the way. The Stock Exchange of Thailand now rests just shy of the 1,570-point plateau and it’s looking at another soft start again on Monday.
The global forecast for the Asian markets is soft, mainly on concerns about the spreading of the coronavirus from China. The European markets were up and the U.S. markets were down and the Asian markets are tipped to follow the latter lead.
The SET finished slightly lower on Friday following mixed performances from the financial shares and energy producers.
For the day, the index lost 4.15 points or 0.26 percent to finish at 1,569.55 after trading between 1,567.07 and 1,576.68. Volume was 15.380 billion shares worth 47.514 billion baht. There were 886 decliners and 595 gainers, with 569 stocks finishing unchanged.
Among the actives, Advanced Info accelerated 2.29 percent, while Thailand Airport added 0.35 percent, Asset World climbed 1.69 percent, Bangkok Bank shed 0.67 percent, Bangkok Dusit Medical advanced 0.97 percent, Bangkok Expressway tumbled 1.77 percent, BTS Group gained 0.74 percent, Charoen Pokphand Foods dropped 0.81 percent, Kasikornbank fell 0.35 percent, PTT sank 1.09 percent, PTT Exploration and Production dipped 0.39 percent, PTT Global Chemical rose 0.50 percent, Siam Commercial Bank collected 0.76 percent, Siam Concrete eased 0.27 percent and TMB Bank, Banpu and Krung Thai Bank were unchanged.
The lead from Wall Street is negative as stocks opened higher on Friday but fell firmly into the red as the session progressed.
The Dow shed 170.37 points or 0.58 percent to end at 28,989.73, while the NASDAQ lost 87.57 points or 0.93 percent to 9,314.91 and the S&P 500 fell 30.07 points or 0.90 percent to 3,295.47. For the week, the Dow shed 1.2 percent, the NASDAQ lost 0.8 percent and the S&P fell 1 percent.
The pullback on Wall Street came after the Centers for Disease Control and Prevention confirmed the second case of the Chinese coronavirus in the U.S.
The markets initially benefited from a positive reaction to earnings news from big-name companies like Intel (INTC) and American Express (AXP).
Crude oil prices drifted lower on Friday, extending recent losses amid rising concerns over the outlook for energy demand and excess market supply. West Texas Intermediate Crude oil futures for March ended down $1.40 or 2.5 percent at $54.19 a barrel.
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