1) Thai stock market overview
Thailand’s SET Index closed at 1,527.57 points, decreased 14.46 points or 0.94% with a trading value of 42 billion baht. The analyst stated that the Thai stock market edged lower in the same direction as regional markets and also Wall Street last Friday. The selloff in electronics stocks in SET Index pressured the market due to concerns of further reduction in electricity prices. The analyst recommended investors to monitor the Fed, BoE and BOJ meeting this week.
2) Chevron says strike has no impact on scheduled LNG deliveries
Chevron (NYSE: CVX) had fully resumed its liquefied natural gas (LNG) production at Wheatstone, the 9 million tons-a-year facility in Western Australia after one-fifth output had been cut by the worker union strike last week.
The strike had no effect on scheduled LNG deliveries as the tanker, the vessel Pacific Enlighten, was able to dock and load 140,000 cubic meters of LNG at Wheatstone terminal last Thursday.
3) Dollar Index could set a record of 10-week winning streak this Friday
The Dollar Index, which is a basket measuring the U.S. dollars (USD) strength against a basket of six influential currencies, including the Euro and Pound, just had a 9-week winning streak last Friday. In the last 45 years, there was only one occasion that the index recorded a gain for 10 weeks straight, which was in 2014.
The index is at 105.24 level, the highest since early March this year. The index rose to a two-decade high at 114 last September when the Fed’s continuous rate hikes were at its peak.