Crude oil CLc1 has dipped from recent highs, under
pressure from strength in the U.S. dollar and a return of economic concerns.
"The market has entered a consolidation phase after concerns that the recent rally was probably overdone," said Therdsak Taveetheeratham, an analyst with Asia Plus Securities.
"With oil prices falling and the profit-taking we've seen recently, the market is likely to see a correction throughout this week," he said.
On Tuesday, the benchmark SET index shed 2.51 percent to 596.54, having earlier touched its lowest since June 4 at 593.39, dragged down by selling of energy heavyweights like PTT (PTT.BK), which fell 3.24 percent.
Foreign investors sold a net 2.16 billion baht ($63 million) of shares.
Click [TH/TRADING01] for cumulative trading value by investor type.
----------------------MARKET SNAPSHOT @ 0122 GMT ------------
INSTRUMENT LAST PCT CHG NET CHG
S&P 500 .SPX 911.97 -1.27% -11.750
USD/JPY <JPY=> 96.41 0.02% 0.020
10-YR US TSY YLD <US10YT=RR> 3.6744 -- 0.025
SPOT GOLD <XAU=> 931.8 -0.25% -2.300
US CRUDE CLc1 70.02 -0.64% -0.450
DOW JONES .DJI 8504.67 -1.25% -107.46
ASIA ADRS .BKAS 107.73 -1.89% -2.07
-------------------------------------------------------------
MARKET SUMMARY > UPDATE 10-Oil slips on dollar, U.S.
industrial data [O/R] > US STOCKS-Wall St hit by economic,
consumer jitters [.N] > FOREX-Euro rally stalls, yen tries
for higher ground[USD/] > TREASURIES-Bonds ride Wall Street
sell-off higher [US/] > Gold rises as dollar's reserve
status in focus [GOL/]
STOCKS AND FACTORS TO WATCH
- Thailand's lower house of parliament has approved the first of two major fiscal bills authorising the government to borrow 800 billion baht ($23.4 billion) to finance stimulus spending and fiscal deficits. [nBKK457132]
- Aberdeen Asset Management (ADN.L) said it was taking a positive view on emerging Asia equities including Thailand but it was wary about the "green shoots" sprouting up in the global economy. [nBKK363831]
- Thailand's 30 billion baht ($880 million) offer of five-year savings bonds next month could provide a coupon as high as 5 percent in the fifth year, a senior Finance Ministry official said. [nBKK484271]
- For the Thai press digest click on [PRESS/TH]
- For Thailand's IPO diary click on <TH/IPOMENU>
- For Thailand's stock exchange news click on [TH-SET]
- For Thailand corporate earnings: [TH-RES-RTRS]
- For Thailand economic forecast: [POLL ECI-TH-RTRS]
($1=34.08 Baht)
Reporting by Ploy Chitsomboon; Editing by Alan Raybould)
http://www.reuters.com/article/rbssFinancialServicesAndRealEstateNews/idUSBKK1606020090617
