Following a four-day winning streak that recorded a nearly 35-point, or 2.5 percent, gain, the Thai stock market experienced a slight dip on Friday. Despite ending under the 1,360-point plateau, predictions for Monday indicate a likely resurgence.
Global forecasts for Asian markets are promising, thanks to positive inflation data and backing from oil and technology sectors. The European and U.S. markets ended last week on a high note, suggesting that Asian markets may open similarly.
The Stock Exchange of Thailand (SET) closed a bit lower on Friday. Despite support from the food and finance sectors, declines in industrial, resource, service, and tech stocks weighed down the index. By the day's end, the index had fallen 4.33 points or 0.32 percent to finish at 1,359.94, with the trading range sitting between 1,358.26 and 1,366.24. Close to 40.183 billion baht was exchanged over 12.139 billion shares.
Shares in tech company Advanced Info decreased by 1.27 percent, while Bangkok Bank fell by 0.37 percent, with Bangkok Dusit Medical rising by 0.87 percent. Asset company Asset World saw a 0.46 percent increase, and Kasikornbank stocks jump by 1.98 percent. Other companies such as PTT Oil & Retail and Siam Commercial Bank also experienced growth in their shares.
The U.S. market witnessed solid leads as indexes climbed during Friday trading. The Dow rose by 153.86 points or 0.40 percent to close at 38,239.66, while the NASDAQ ended with a robust increase, surging by 316.10 points or 2.02 percent to close at 15,927.90. The S&P 500 followed suit, advancing 51.54 points or 1.02 percent to end the week at 5,099.96. Big-brand tech companies like Alphabet, Microsoft, and Snap made notable contributions to this rally.
Positive reactions to U.S. inflation data also buoyed the market. Statistics released by the Commerce Department showed that U.S. consumer pricing in March aligned with estimates, yielding a decrease in Treasury yields and mitigating potential negative reactions to the data.
Anticipations concerning oil demand and supply concerns led oil prices to rise on Friday, with West Texas Intermediate crude futures for June ending higher by $0.28 or 0.34 percent, setting the price at $83.85 a barrel. For the week, WTI crude futures yielded a gain of 0.85 percent.