Futures Focus

Futures Focus

The SET50 Index closed last week at 742.86 points, an increase of 4.78 points or 0.65% from the previous week. For SET50 Index Futures, the nearest contract month S50U11 (expiring in September 2011) was settled at 730.6 points, an increase of 3.7 points or 0.51% from the previous week.

The Dow Jones Industrial Average and many major stock indices began last week on an upbeat note as investors responded positively to encouraging corporate news including some large mergers, and reports that the Japanese economy contracted less than expected in the second quarter.
However, the enthusiasm was short-lived and markets plunged in subsequent days on concerns about the weakening world economy and the US credit rating, despite an affirmation from Fitch of its AAA rating. Debt problems in Europe and worse-than-anticipated US economic indicators continued to dull sentiment The Dow fell 4% on the week to close on Friday at 10,817.65.
In the precious metals market, gold continued its climb, passing $1,880 an ounce at one point, as investors sought a safe haven from the sell-off in global equities on escalating European and US debt and economic woes.
The Thai stock market rose and fell last week mainly on the basis of US and European market sentiment, and despite encouraging local data showing that SET-listed firms' profits in the first half rose 36% from the same period last year. The SET index closed on Friday at 1,069.20, up a modest 7.13 points or 0.7% from the previous week.
On the TFEX, daily average trading volume was 63,189 contracts, a decrease of 17,684 from the previous week. Open interest was 148,336 contracts, an increase of 6,452 from the previous week.