Futures Focus

The SET50 Index closed last week at 998.25 points, an increase of 9.81 points or 1% from the previous week. The most traded SET50 Futures contract S50H17 (expiring in March 2017) was settled at 996.50 points, an increase of 7.6 points or 0.77% from the previous week.

The US stock market declined all week as investors fretted about a crucial vote on healthcare, which failed to pass on Friday, as it was seen as a key test of US President Donald Trump’s ability to push through his legislative agenda. The terrorist attack on London also dampened market sentiment, although the impact on the London stock market was limited and short-lived. The Dow closed down 49 points on Friday at 20,596.72, a decrease of 1.5% from 20,914.62 the week before.

In Thailand, the market rebounded with earnings expectations the key driver, with the banking sector outperforming due to an anticipated profit recovery. However, February exports fell 2.8% year-on-year, mostly due to a high base a year earlier, although imports jumped by 20.4%. Exports for the first two months of the year are still up by 22.5%. The SET Index rose by 4.79 points on Friday to finish the week at 1,573.51, an increase of 0.8% from a week earlier.

On the TFEX, daily average trading volume was 252,689 contracts, a decrease of 62,738 contracts or 19.9% from the previous week. The most actively traded product was Single Stock Futures with 698,271 contracts, or 139,654 per day. Total market open interest was 2,037,428 contracts, an increase of 4,738 or 0.2%.