(RTTNews) – After two straight sessions of declines, the Thai equity market slipped over 20 points, or roughly 1.2%, edging just above the 1,575‑point level; analysts anticipate a modest rebound at Thursday’s open.
Asian markets are expected to show mixed to slightly higher sentiment, buoyed by hopes of a dovish interest‑rate outlook, while European bourses slipped and U.S. indexes gained, suggesting Asian stocks may mirror the U.S. strength.
The SET closed modestly lower on Wednesday, with losses spread across consumer, industrial, property, resource, services and technology stocks.
During the session the index fell 13.61 points, or 0.86%, to settle at 1,575.07, trading in a narrow band between 1,572.44 and 1,589.88. Turnover reached 9.86 billion shares valued at 64.34 billion baht, with 359 issues declining, 117 advancing and 176 unchanged.
Wall Street set a positive tone, opening higher on Wednesday and staying in the green for the remainder of the session, closing near the day’s highs.
The Dow Jones Industrial Average rose 295.07 points (0.56%) to 53,061.95, the Nasdaq Composite added 118.05 points (0.45%) to 26,217.83, and the S&P 500 increased 35.13 points (0.46%) to 7,666.60.
The rally on Wall Street was driven by bargain‑hunting after a recent dip that pushed the S&P 500 to its lowest level in almost a month, complemented by early buying as Treasury yields retreated.
Although Treasury yields later rebounded from their early lows, a softer‑than‑expected ADP private‑sector jobs report eased worries about future interest‑rate hikes.
Market participants hope that any further softening in labor data could persuade the Federal Reserve to hold off on another rate increase this month, despite lingering inflation concerns.
Crude oil prices rose on Wednesday after the United States launched a second round of strikes against Iran, heightening tensions. WTI crude for October delivery climbed $0.97, or 1.08%, to $91.19 per barrel.