Futures Focus

The SET50 Index closed last week at 1,133.78 points, an increase of 7.53 points or 0.67% from the previous week. The most traded SET50 Futures contract S50U18 (expiring in September 2018) was settled at 1,127.80 points, an increase of 7.1 points or 0.63%.

US stocks steadied last week after the Federal Reserve left its benchmark interest rate unchanged on Wednesday but signalled two more increases this year as economic indicators remain quite robust. Nonetheless, worries over US-China trade tensions continued to pressure market sentiment, despite positive support from technology stocks, which pushed the Nasdaq up on Thursday. Weak job creation numbers for July concerned investors on Friday, though the unemployment rate fell to 3.9%. The Dow ended the day up 136 points to finish the week at 25,462.58, up marginally from 25,451.06 the week before.

Trade on the SET was fairly volatile, with the main index moving between 1,696.93 and 1,720.83 points. Sentiment was supported by the energy sector as oil prices increased, followed by banking and property stocks. The SET rose 3.81 points on Friday to finish the week at 1,712.09, an increase of 0.6% from 1,701.87 the week before.

On the TFEX, daily average trading volume was 379,083 contracts, a decrease of 46,215 contracts or 10.9% from the previous week. The most actively traded product was Single Stock Futures with 768,575 contracts, or 192,144 per day. Total market open interest was 2,627,074 contracts, an increase of 77,381 or 3%.