Thai stocks are predicted to bolster in the aftermath of the Brexit. The initial global panic caused by the historical departure of the UK from the European Union is slowly fading away. Global markets are easing back into their normal levels.
The Stock Exchange of Thailand or SET is no exception. It has since been hiking into a two-day winning streak since last Thursday which is predicted to continue on Monday despite a minor setback caused by the energy producers at the end of trading on Friday.
Companies in the SET saw both bulls and bears. PPT Exploration and Production tumbled by 2.09% while PTT Global Chemical and Siam Commercial Bank stayed the same. PTT itself lost 0.64% and Siam Concrete declined by 0.42%. Winners in the SET included Advanced Info with a 0.62% surge. Banpu, the coal miner company added 0.64%.
The global forecast for the world markets is in green territory as market participants gradually go back to natural operations after a highly volatile trading in recent days. Today, stocks are given good news with the announcement of a stable employment data from the US. Advanced economies are expected to surge with Asian economies anticipated to be lifted up by this rise.
June data showed 287,000 jobs filled. This breaks the labor growth forecast of 180,000 jobs. And even though the unemployment percent increased from 4.7% to 4.9%, the details still show expansion.
The next market event to watch out for is the Federal Reserve policy meeting which will occur near the end of the month. Ever since late last year, market participants has been waiting for the inevitable interest rate hike. However, the Fed has chosen to keep rates at its current state. This is still to help the economy in faring after the close results between Brexit and Bremain. It is the first time in history that a country has left the European Union.