Finansia Syrus Securities (FSS) expected Thailand’s SET Index to continue recovering on an easing pressure from a decline in US bond yield and a drop in private payroll for September that was largely lower than estimated which reflected a slowdown in the job market.
However, FSS expected the upside to be limited by the energy sector that would be pressured by a sharp plunge of oil prices yesterday. Still, FSS saw it as a positive factor to the Thai economy in terms of trading and lower pressure from inflation.
The US Energy Information Administration (EIA) reported on Wednesday that domestic stocks of petrol rose by 6.5 million barrels last week in contrast to only a drop of 2.2 million barrels in stocks of crude.
The report had a huge impact on oil prices as the international benchmark Brent crude dropped $5.11 or 5.6% to close at $85.81 a barrel, while West Texas Intermediate (WTI) fell $5.01 or 5.6% to settle at $84.22 a barrel. Crude prices have now fallen about $10 since the closing of last week.
However, crude prices made a slight recovery on Thursday morning in the Asian trading hours as Brent rose $0.20 or 0.23% to $86.01 a barrel, while WTI gained $0.12 or 0.14% to $84.34 per barrel.
Apple Inc. Chief Executive Officer Tim Cook made $41.5 million after taxes through the sale of Apple’s shares in his biggest sale in two years.
The CEO submitted a filing to the U.S. securities, indicating that he sold 511,000 shares, which were worth about $87.8 million before accounting for taxes. In August 2021, he made $355 million from the sale.
