Futures Focus

The SET50 Index closed last week at 1,102.77 points, a decrease of -6.93 points or 0.62% from the previous week. The most traded SET50 Futures contract S50M19 (expiring in June 2019) was settled at 1,097.10 points, a decrease of 3.8 points or 0.35%.

US stock markets rose ahead of the midterm elections on Tuesday and continued to surge on Wednesday as the result, with different parties controlling the House and Senate, eased worries about policy changes that could hurt companies. However, stocks retreated as crude oil prices continued to lose ground after the US oil benchmark entered a bear market. The dollar continued its advance after the Federal Reserve indicated it remained on track for a December rate hike. The Dow Jones Industrial Average closed down 202 points on Friday to finish the week at 25,989.30, an increase of 2.8% from 25,270.83 the week before.

The Thai market was rangebound throughout the week as investors were being cautious about the reaction to the US midterm elections. Positive domestic news and negative overseas factors kept the market largely in check. The SET Index fell 13.21 points on Friday to finish the week at 1,668.52, a decrease of 0.8% from 1,681.84 the week before.

On the TFEX, daily average trading volume was 304,572 contracts, a decrease of 15,867 contracts or 4.95% from the previous week. The most actively traded product was SET50 Index Futures with 845,372 contracts, or 169,074 per day. Total market open interest was 2,869,420 contracts, an increase of 52,165 or 1.85%.