SET index at 13-month low
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The Stock Exchange of Thailand continued its slide Tuesday to a new 13-month low.
The Stock Exchange of Thailand index yesterday fell to a 13-month low at 1,447.44 points.
The index last touched 1,440.94 points on June 2, 2014.
Thai shares have been ended lower for six consecutive days.
Tisco Securities said that markets now expect new economic stimulus packages, as the Cabinet convened today. There is limited downside risk but there is no factor to drive up the market, it noted.
"The government sector is expected to show more progress in the next few months (particularly if there is a Cabinet reshuffle) before the fiscal year ends," it said in a research note.
The Thai market fell though other Asian markets advanced today. Tokyo was boosted by a weaker yen and Shanghai's recovery continuing. However, falling commodity prices fuelled fears about global growth.
Expectations of more Iranian crude flooding the oversupplied global market within months following a nuclear deal also continue to drag prices lower.
Dubai crude oil ended last week at US$56.40 per barrel. In a note, PTT expected the crude oil to move between $53.6-$58.7 during this week.
With concerns easing about the Greek debts crisis and Chinese market rout, dealers are now focusing on when the US Federal Reserve will hike interest rates as the US economy gets back on track.
