Weekly TFEX summary

Sentiment in stock markets improved, led by the Dow Jones Industrial Average rallying the most in four months last Tuesday, thanks to Citigroup's announcement that it had made a profit for the first two months of the year. The DJIA was able to climb for three straight days, breaking through 7,000 points.

Investors were increasingly optimistic that the world's economy would stabilise sooner rather than later, and rushed to snap up cheap stocks. The price of gold bounded back and stayed above US$900 (Bt32,377) an ounce for a while.

The Thai stock market followed the euphoria in global markets, led by the energy sector after the price of crude oil reached about $50 a barrel.

The local economy, however, is likely to remain weaker than expected as a result of the world economic crisis and anxiety over the government's stability.

Daily average trading of the Thailand Futures Exchange last week increased 7.28 per cent to 7,739 contracts, while trading of gold futures continued to be active. 

Weekly trading volume on the TFEX totalled 38,697 contracts worth Bt12.72 billion, with 32,835 contracts for SET50 Index futures, 830 for singlestock futures, 4,221 for gold futures and 811 for SET50 Index options.