Futures Focus

The SET50 Index closed last week at 1,183.47 points, an increase of 11.64 points or 1% from the previous week. The most traded SET50 Futures contract S50J18 (expiring in April 2018) was settled at 1,180.00 points, an increase of 18.1 points or 1.56%.

US markets experienced choppy trading, reflecting concerns over inflation and interest rates. Minutes of the January Federal Reserve meeting showed policymakers expect brisk economic expansion this year, which could mean more than the expected three interest-rate increases by year-end. However, a broad rally led by tech firms lifted Wall Street on Friday, with the Dow jumping 347 points to close at 25,309.99, up 0.3% from 25,219.38 the week before.

In Thailand, trading volume at the beginning of the week was light due to the Chinese New Year. Investors were heartened by official figures showing the economy expanded 3.9% in 2017, the best performance in five years. As well, January export growth hit a 62-month high on increased shipments of auto parts, electronics and agricultural products. However, concern over US inflation and interest rates capped gains, before the SET jumped 19.43 points on Friday to finish at 1,808.06, up 0.2% from 1,805.89 the week before.

On the TFEX, daily average trading volume was 368,798 contracts, an increase of 88,224 contracts or 31.4% from the previous week. The most actively traded product was Single Stock Futures with 1,098,904 contracts, or 219,781 per day. Total market open interest was 3,397,994 contracts, a decrease of 11,444 or 0.34%.