Futures Focus

The SET50 Index closed last week at 1,171.83 points, an increase of 17.1 points or 1.5% from the previous week. The most traded SET50 Futures contract S50H18 (expiring in February 2018) was settled at 1,168 points, an increase of 17.20 points or 1.5%.

US markets rebounded last week after a period of extreme volatility the week before. Investors shifted back into equities despite continuing concern about higher interest rates, while the dollar hit a 15-month low against the Japanese yen. US jobless claims inched up, causing some concern on markets at midweek. The Dow closed up 19 points on Friday to finish the week at 25,219.38, an increase of 4.2% from 24,190.90 the week before.

In Thailand, the SET moved upward with good earnings reports from listed companies. As well, the National Legislative Assembly approved the Eastern Economic Corridor plan with projects valued at US$45 billion, which are expected to provide economic stimulus in coming years. The Bank of Thailand kept its interest rate unchanged at 1.5% as expected, saying policy was suited to prevailing economic conditions. The SET rose 5.03 points on Friday to end the week at 1,805.89, up 1.1% from 1,786.45 the week before.

On the TFEX, daily average trading volume was 280,574 contracts, a decrease of 334,961 contracts or 54.4% from the previous week. The most actively traded product was Single Stock Futures with 647,577 contracts, or 129,515 per day. Total market open interest was 3,398,439 contracts, an increase of 25,111 or 0.74%.