Futures Focus

The SET50 Index closed last week at 1,126.25 points, an increase of 22.93 points or 2.1% from the previous week. The most traded SET50 Futures contract S50N18 (expiring in July 2018) was settled at 1,122.98 points, an increase of 20.68 points or 1.9%.

US stocks rose early last week as investors shifted out of bonds and into equities on strong earnings news. With results in from 20% of the companies in the S&P 500, most have beaten expectations. Also helping sentiment was the declaration by President Trump that the US and Europe were resolving differences over trade. However, a fall in earnings by Facebook rocked markets on Thursday. The Dow slipped another 76 points on Friday despite strong second-quarter GDP figures, to finish the week at 25,451.06, an increase of 1.5% from 25,058.12 the week before.

Thai shares were pushed upward by domestic optimism and a return of foreign funds after weeks of heavy selling. Foreign investors were net buyers for three straight days, purchasing a net 3.9 billion baht, but were net sellers for the month of 17.7 billion. The SET rose 11.79 points on Thursday to finish the holiday-shortened week at 1,701.87, up 1.8% from 1,671.06 the week before.

On the TFEX, daily average trading volume was 425,298 contracts, an increase of 109,658 contracts or 34.7% from the previous week. The most actively traded product was Single Stock Futures with 948,805 contracts, or 237,201 per day. Total market open interest was 2,562,721 contracts, an increase of 98,808 or 4%.