The Thai stock market has experienced a decrease over the past five sessions, reducing by more than 30 points, which illustrates a 2.3% decline. Currently, the Stock Exchange of Thailand is positioned slightly below the 1,420-point mark, with expectations for stabilization on Tuesday. The outlook for Asian markets is varied, with an upward tilt, driven by robust performance in the technology sector. While European markets showed a downturn, U.S. markets presented mixed outcomes, suggesting a similar trajectory for Asian exchanges. On Monday, the SET saw moderate declines, impacted by downturns across various sectors, including food, consumer goods, industrials, property, service, and technology. Specifically, the index dropped by 11.95 points or 0.83%, closing at 1,419.72, within a trading range of 1,414.86 to 1,424.68. Trading volume reached 7.436 billion shares valued at 40.533 billion baht, with 375 stocks declining, 119 gaining, and 171 remaining unchanged. Notably, Advanced Info decreased by 0.35%, Bangkok Dusit Medical fell by 1.63%, whereas BTS Group surged by 3.39%. CP All Public experienced a significant drop of 5.60%, and Energy Absolute was down by 2.48%. On the other hand, Gulf Energy saw a slight increase of 0.82%, and PTT rose by 0.79%.
On Wall Street, the sentiment is cautiously optimistic, as major indices opened with mixed performance and concluded similarly. The Dow Jones Industrial Average dipped by 110.58 points or 0.25%, settling at 43,717.48. Conversely, the NASDAQ experienced a notable climb, gaining 247.17 points or 1.24% to reach a new record at 20,173.89, while the S&P 500 advanced by 22.99 points or 0.38% to close at 6,074.08.
The general strength observed on Wall Street reflects positive sentiment regarding interest rate projections ahead of the Federal Reserve's forthcoming monetary policy announcement. It is largely anticipated that the Fed will proceed with another interest rate cut, as the CME Group's FedWatch Tool indicates a 99.1% likelihood of a 25 basis point reduction.
The NASDAQ's rise was supported by substantial gains in semiconductor stocks, highlighted by a 2.1% increase in the Philadelphia Semiconductor Index. Networking stocks also exhibited strength, driving the NYSE Arca Networking Index up by 2.0% to a new record close.
Despite the market's overall positive movement, investment enthusiasm was somewhat muted due to persistent inflation concerns, which could temper the pace of future rate cuts by the Fed next year.
In economic developments, the Federal Reserve Bank of New York reported a significant decline in regional manufacturing activity for December.
Meanwhile, crude oil prices dropped on Monday amid worries about demand, following weak economic indicators from China and tariff concerns. West Texas Intermediate Crude oil futures for January concluded the day down by $0.58, closing at $70.71 per barrel.
The material has been provided by InstaForex Company -
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