Futures Focus

The SET50 Index closed last week at 1,063.71 points, an increase of 12.08 points or 1.15% from the previous week. The most traded SET50 Futures contract S50M19 (expiring in June 2019) was settled at 1,045.10 points, an increase of 7.1 points or 0.68%.

US stocks traded in a narrow range during the week. On Tuesday, stocks fell in the final hour of trading in a holidayshortened session, dragged down by technology and financial companies. Worries about the trade dispute between the US and China kept many investors on the sidelines. Washington imposed a first round of tariffs on $34 billion in Chinese imports on Friday, and Beijing countered immediately. However, the news had been largely priced in and the Dow closed up 100 points on Friday at 24,456.48, up 0.8% from 24,271.41 the week before.

In Thailand, the SET index remained below the major support at 1,600 points for most of the week before a bargain-hunting rally on Friday. Foreign fund outflows slowed slightly but foreigners were still net sellers on the week. Investors’ main concern is the impact of the US-China trade war. The SET rose 13.34 points on Friday to finish at 1,614.76, an increase of 1.2% from 1,595.58 the week before.

On the TFEX, daily average trading volume was 419,992 contracts, a decrease of 439,759 contracts or 51.15% from the previous week. The most actively traded product was SET50 Index Futures with 1,060,400 contracts, or 212,080 per day. Total market open interest was 2,460,470 contracts, a decrease of 76,163 or 3%.