Futures Focus

The SET50 Index closed last week at 1,128.62 points, a decrease of 5.16 points or 0.46% from the previous week. The most traded SET50 Futures contract S50U18 (expiring in September 2018) was settled at 1,126.50 points, a decrease of 1.3 points or 0.12%.

The US stock market fell as concern about the growing trade war with China hurt sentiment. On Wednesday, oil prices dropped sharply as China announced retaliatory tariffs against US oil products starting from Aug 23. Markets worldwide were rattled on Thursday and Friday as the Turkish lira went into a free fall amid worsening economic conditions and a row with the US. The Dow closed down 196 points on Friday as banks fell on concern about exposure to Turkey. The Dow ended the week at 25,313.14, a decrease of 0.6% from 25,462.58 the week before.

In Thailand, the SET index moved in and out of the red, affected by negative global factors. As the baht weakens, foreign investors have been chasing bargains after months of heavy selling. Foreigners are net buyers of 9.4 billion baht so far this month. The SET fell 16.52 points on Friday to finish the week at 1,705.96, a decrease of 0.4% from 1,712.09 the week before.

On the TFEX, daily average trading volume was 338,874 contracts, a decrease of 63,316 contracts or 15.7% from the previous week. The most actively traded product was SET50 Index Futures with 875,166 contracts, or 175,033 per day. Total market open interest was 2,627,715 contracts, an increase of 47,509 or 1.84%.