Futures Focus

The SET50 Index closed last week at 818.69 points, a decrease of 37.07 points or 4.33% from the previous week. The most active SET50 Futures contract S50Z15 (expiring in December 2015) was settled at 818.50 points, a decrease of 34.60 points or 4.06% from the previous week.

The US stock market slumped from Monday through Wednesday as oil prices fell to a seven-year low. As well, investors continued to be disappointed that the European Central Bank (ECB) had not been bolder in its stimulus announcement the previous week. Nonetheless, on Thursday, the Dow gained 0.5% on support from bargain-hunters. The Dow sank another 309 points on Friday as low oil prices rattled investors and caused some to question whether the Fed should act this week. The blue-chip index closed at 17,265.21, a decrease of 3.2% from 17,847.63 the week before.

In Thailand, shares also slumped in line with global and regional markets, though trade volume remained healthy. Pressure from low oil prices and the looming Fed decision weighed on the SET, which closed on Friday at 1,280.92 points, down 4% from the week before. The SET has officially entered bear-market territory, down 21% from its Feb 13 high.

On the TFEX, daily average trading volume was 329,317 contracts, an increase of 98,125 contracts or 42.4% from the previous week. The most actively traded product was SET50 Index Futures with 287,685 contracts, or 95,895 per day. Total market open interest was 1,068,067 contracts, a decrease of 10,446 or 1%.