Futures Focus

The SET50 Index closed last week at 987.29 points, an increase of 6.03 points or 0.6% from the previous week. The most active SET50 Futures contract S50U16 (expiring in September 2016) was settled at 985.20 points, an increase of 7.70 points or 0.8% from the previous week.

US stocks gained last Tuesday in response to upbeat data on US new-home sales and stronger than expected European private-sector activity. However, markets retreated Thursday with investors reluctant to make big bets the day before a much-anticipated speech by Federal Reserve chair Janet Yellen. Yellen said the case for an interest-rate increase was “strengthening”, and Fed vice-chairman Stanley Fischer strongly suggested that a move in September was possible. The Dow slipped 53 points on Friday to finish the week at 18,395.40 points, down 0.8% from 18,552.57 the week before.

In Thailand, stocks moved up and down, influenced by global factors including strong US economic data and oil price movements, which turned positive on Thursday. However, Fed interest-rate signals preoccupied investors on Friday and trade was subdued. The SET Index gained 5.31 points on Friday to finish the week at 1,549.41, a gain of 0.7% from the previous week.

On the TFEX, daily average trading volume was 298,950 contracts, a decrease of 48,199 contracts or 13.9% from the previous week. The most actively traded product was Single Stock Futures with 874,348 contracts, or 174,870 per day. Total market open interest was 2,207,318 contracts, an increase of 193,857 or 9.6%.