(RTTNews) - The Thai Stock market has moved lower in three straight sessions, sinking more than 25 points or 1.8 percent along the way. The Stock Exchange of Thailand now sits just above the 1,455-point plateau although it may find support on Monday.
The global forecast for the Asian markets is cautiously optimistic on easing oil prices and support from technology shares. The European markets were down and the U.S. bourses were mostly higher and the Asian markets figure to follow the latter lead.
The SET finished slightly lower on Friday as losses from the finance, service and technology sectors were offset by gains among the resource, property and industrial companies.
For the day, the index fell 5.25 points or 0.36 percent to finish at 1,456.10 after trading between 1,438.33 and 1,458.47. Volume was 8.414 billion shares worth 48.768 billion baht. There were 217 gainers and 210 decliners, with 222 stocks finishing unchanged.
Among the actives, Advanced Info climbed 1.16 percent, while Thailand Airport stumbled 1.36 percent, Asset World advanced 0.96 percent, Banpu improved 0.91 percent, Bangkok Bank retreated 1.55 percent, B. Grimm vaulted 1.64 percent, CP All Public skidded 1.10 percent, Charoen Pokphand Foods shed 0.52 percent, Energy Absolute increased 0.75 percent, Gulf lost 0.44 percent, Kasikornbank sank 0.78 percent, Krung Thai Bank declined 1.53 percent, Krung Thai Card dropped 0.85 percent, PTT Oil & Retail slumped 0.83 percent, PTT lost 0.71 percent, PTT Exploration and Production strengthened 1.36 percent, SCG Packaging soared 3.47 percent, Siam Commercial Bank contracted 1.52 percent, Siam Concrete rallied 2.34 percent, Thai Oil spiked 2.81 percent, True Corporation tumbled 2.17 percent, TTB Bank collected 0.90 percent and PTT Global Chemical, Bangkok Dusit Medical, Bangkok Expressway and BTS Group were unchanged.
The lead from Wall Street is mixed as the Dow opened lower and finished the same way, while the NASDAQ and S&P began in the green and picked up steam as the day progressed.
The Dow shed 79.59 points or 0.16 percent to finish at 49,230.71, while the NASDAQ surged 398.10 points or 1.63 percent to end at 24,836.60 and the S&P 500 gained 56.68 points or 0.80 percent to close at 7,165.08.
For the week, the Dow slipped 0.4 percent, the NASDAQ jumped 1.5 percent and the S&P added 0.6 percent.
The rebound by the broader markets came amid a spike by shares of Intel (INTC) after the chipmaker reported much better than expected first quarter earnings and forecast Q2 revenues above estimates.
Buying interest was also generated in reaction to a pullback by the price of crude oil, which has soared over the past few sessions. President Donald Trump's announcement of a three-week extension of the ceasefire between Israel and Lebanon has also weighed on crude oil prices.
Crude oil prices slumped on Friday as the prospects of a peace deal between U.S. and Iran gather steam, lowering Middle East tensions. West Texas Intermediate crude for June delivery was down $1.68 or 1.75 percent at $94.17 per barrel.
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