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Baht/$ 34.36/41 (Bid/Ask)
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GOLD |
14450
+300
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The SET50 Index closed last week at 311.16 points, a decrease by 101.82 index points or 24.65% from the previous week. For SET50 Index Futures, the nearest contract month S50Z08 (expiring in December 2008), was settled at 304.4 points, a decreased of 109 index points from the previous week. Last week was the worst week in decades for global stock markets, which sank sharply as the financial crisis quickly spread. European banks are among the latest victims. For instance, the government of Iceland had to intervene by taking over the country's three largest banks. Central banks in Europe and the US Federal Reserve jointly cut their policy rates but even this unprecedented action did almost nothing to restore confidence in the financial markets.
Thai stocks could not escape the financial storm, but the trouble was further compounded locally as political turmoil and violence erupted again on Monday. The SET index lost nearly 140 points to stand at a five-year low. Most notably, on Friday, the Stock Exchange of Thailand had to enforce its circuit-breaker rule for only the second time in history after the index dropped more than 10% in the afternoon session.
Total weekly volume on the TFEX was 81,634 contracts, made up of 80,562 futures contracts and 1,072 options contracts. The three most active options series were put options with an exercise price of 390 index points, followed by put options with exercise prices of 370 and and 400 index points, respectively, all expiring in December 2008.
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