The Thai stock market has experienced a decline for the fifth consecutive day, with the Stock Exchange of Thailand slipping more than 15 points or 1 percent. This downward trend is likely to continue on Thursday, as global markets show weakness due to concerns surrounding interest rates. Despite losses in various sectors, support from the property and technology stocks has managed to mitigate the losses in the overall market.
The Thai Stock Market Continues to Slide for the Fifth Consecutive Day
The Thai stock market has remained in a downward trend, slipping for the fifth consecutive day. The Stock Exchange of Thailand now sits just below the 1,520-point mark, with a decline of over 15 points or 1 percent. This decline is reflective of the overall mood in global markets, which are also experiencing weakness due to concerns over the outlook for interest rates. Investors are taking a cautious stance, resulting in a downward pressure on the Thai stock market.
Global Markets Awaiting Interest Rate News, Asian Markets to React
The outlook for interest rates is causing uncertainty in global markets, prompting a weak forecast for Asian markets as well. The European markets showed mixed results, while the U.S. bourses experienced a decline. As a result, the Asian markets are expected to split the difference, with a mixture of gains and losses. Investors are closely watching for any news or updates regarding interest rates, as it has a significant impact on market sentiment and investment decisions.
Limited Support from Property and Technology Stocks Cushions Losses in Thai Stock Market
In the Thai stock market, losses from industrial, energy, food, and finance companies have been mitigated by support from the property and technology sectors. These stocks have provided some cushioning effect, preventing larger losses in the overall market. However, it remains to be seen how long this support can last, as the prevailing bearish sentiment in global markets continues to weigh on investor confidence.
Major Stocks in Focus: Advanced Info, Bangkok Bank, PTT Global Chemical
Several major stocks have been in focus in the Thai stock market. Advanced Info has seen a modest increase of 0.45 percent, while Bangkok Bank has slipped by 0.29 percent. PTT Global Chemical, on the other hand, has experienced a significant decline of 5.81 percent. These stocks highlight the varied performance and sentiment within the market, as investors assess the prospects of different companies and sectors.
Wall Street Ends in the Red on Concerns Over Inflation and Interest Rates
The negative sentiment in global markets can be attributed to the minutes from the Federal Reserve’s July meeting, which showed concerns over inflation and the potential need for further tightening of monetary policy. This has led to a decline in the major U.S. stock indexes, with the Dow, NASDAQ, and S&P 500 all ending in the red. Additionally, worries about energy demand from China and uncertainty surrounding interest rates have also contributed to the decline in Wall Street.
The Thai stock market has continued its downward trend for the fifth consecutive day, reflecting the weak sentiment in global markets. Concerns over the outlook for interest rates have weighed on investor confidence, leading to losses in various sectors. However, support from property and technology stocks has helped to cushion the overall decline. As global markets await further news on interest rates, the Thai stock market is likely to remain under pressure in the coming days. Investors will closely monitor the performance of major stocks and watch for any updates that could influence market sentiment.
Analyst comment
Negative news. The Thai stock market is experiencing a continued decline for the fifth consecutive day, reflecting weak global market sentiment due to concerns over interest rates. The market is likely to continue its downward trend as investors remain cautious. Property and technology stocks are providing some support, but overall losses are expected.
