Continued Consolidation Likely For Thai Stock Market

(RTTNews) - The Thai stock market has finished lower in three straight sessions, slipping almost 25 points or 1.7 percent along the way. The Stock Exchange of Thailand now sits just beneath the 1,500-point plateau and it's looking at another soft start again on Monday.

The global forecast for the Asian markets is mixed to lower on concerns about the coronavirus and uncertainty about additional stimulus. The European markets were slightly lower and the U.S. bourses were mixed and the Asian markets figure to split the difference.

The SET finished sharply lower on Friday following losses from the energy producers and a mixed picture from the financial sector.

For the day, the index dropped 15.63 points or 1.03 percent to finish at 1,497.88 after trading between 1,494.45 and 1,518.05. Volume was 29.066 billion shares worth 96.698 billion baht. There were 1,167 decliners and 471 gainers, with 3.09 stocks finishing unchanged.

Among the actives, Advanced Info fell 0.28 percent, while Thailand Airport skidded 1.24 percent, Asset World tumbled 2.09 percent, Bangkok Asset Management dropped 0.94 percent, Bangkok Bank plunged 3.94 percent, Bangkok Dusit Medical retreated 1.40 percent, BTS Group declined 2.03 percent, Charoen Pokphand Foods surrendered 2.59 percent, Gulf sank 1.46 percent, Kasikornbank soared 3.20 percent, Krung Thai Bank lost 2.40 percent, PTT plummeted 3.07 percent, PTT Exploration and Production shed 0.89 percent, PTT Global Chemical cratered 2.78 percent, Siam Commercial Bank collected 0.80 percent, Siam Concrete spiked 1.81 percent, TMB Bank was down 2.52 percent and Bangkok Expressway was unchanged.
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