SET rally comes to end | Bangkok Post: business

A seven-day rally for Thai stocks came to an end on Friday with the SET index declining 1% to close at 1,227.41 points. Trading turnover was 35.99 billion baht, with 6.2 billion shares traded.

However, the index was still up 1.3% from the previous week, its third consecutive weekly advance.Foreign investors sold Thai shares ahead of the three-day weekend, while weakness in global oil markets spurred selling in energy, with shares in the PTT group leading the way.PTT and its affiliates account for nearly 30% of the total capitalisation of the local stock market.Crude oil dropped as much as 1.1% to $101.45 a barrel, the lowest since April 11, on the New York Mercantile Exchange.With the SET, one of Asia's best performers this year, trading at a 16-year high after a lengthy rally, market players now appeared a little cautious, traders said.Technical signs pointed to a correction to a range of 1,150 and 1,100 in the next few months before the market could move...