Futures Focus

The SET50 Index closed last week at 1,131.13 points, a decrease of 27.62 points or 2.4% from the previous week. The most traded SET50 Futures contract S50Z18 (expiring in December 2018) was settled at 1,132.70 points, a decrease of 26.80 points or 2.3%.

US stocks climbed through Wednesday amid optimism about the new trade agreement between the US, Canada and Mexico. Oil price gains also helped energy stocks. However, stocks plunged on Thursday as the Fed signalled a more aggressive approach to rate increases. That pushed Treasury yields to a seven-year high and cut demand for riskier assets. The Dow lost 0.75% on Thursday and a further 0.7% (180 points) on Friday to finish the week at 26,447.05, almost unchanged from 26,458.31 the week before.

In Thailand, the SET Index moved mostly in negative territory in response to global factors, despite optimism about the economy and election-related developments, combined with the rally in oil prices. The property sector is weighing the impact of new central bank measures requiring 20% down payments for second-home purchases, starting Jan 1. The SET fell 8.88 points on Friday to finish the week at 1,720.52, down 2% from 1,756.41 the week before.

On the TFEX, daily average trading volume was 389,674 contracts, a decrease of 272,915 contracts or 41.2% from the previous week. The most actively traded product was Single Stock Futures with 1,067,482 contracts, or 213,496 per day. Total market open interest was 3,177,638 contracts, an increase of 104,798 or 3.4%.