Recap: Global equity sentiment improved, especially in emerging markets, after strong US economic indicators drove the Dow Jones index close to a three-month high. The US trade deficit also shrank as exports improved and imports declined. Anxiety about a US-China trade war eased but Donald Trump still faces the wrath of many G7 trading partners this weekend.
The SET index moved in a range of 1,710.81 and 1,746.50 points before closing at 1,722.04, up 0.1% from the previous week, in moderate turnover averaging 55.31 billion baht a day.
Foreign investors were net sellers of 6.96 billion baht, with brokerage firms selling 1.27 billion and retail investors selling 1.67 billion worth of shares. Institutional investors were net buyers of 9.9 billion baht.
Newsmakers: The White House said President Donald Trump was receiving daily briefings ahead of Tuesday's summit with North Korean leader Kim Jong-un in Singapore. Their first meeting will take place at 9am local time. Washington reiterated, however, that sanctions would not be lifted against North Korea unless it gave up its nuclear weapons.
The US has reached a deal with the Chinese telecoms firm ZTE that will remove a ban on the company buying parts from US suppliers. ZTE will pay a US$1-billion penalty and hire a compliance team chosen by the US. It will also be required to replace its management board within 30 days.
Economic growth in the euro zone cooled in the first quarter to 0.4% from the quarter before, the weakest pace since mid-2016, according to a final reading from Eurostat.
Household spending in Japan unexpectedly contracted in April and services sector activity slowed in May, raising a possibility of the economy falling into recession in the second quarter.
Malaysia's central bank governor resigned three years before the end of his term, the latest top official to depart since Prime Minister Mahathir Mohamad took office.
Starbucks executive chairman Howard Schultz, who oversaw the growth of the coffee chain into a global powerhouse, is quitting the company after nearly four decades. There has been some speculation he may enter politics.
The government has informed foreign companies through their respective embassies that the flagship Eastern Economic Corridor (EEC) will carry on as planned, regardless of whether a general election takes place in February or results in a new political direction.
The Finance Ministry and the Bank of Thailand have confirmed that the deadline for requiring banks to use financial accounts submitted to the Revenue Department by small and medium-sized enterprises (SMEs) for loan approvals is still on track for the start of next year.
The cabinet has approved a royal decree to scrap the 10% exemption from corporate tax for international banking facilities based on a recommendation of the OECD.
The Public Debt Management Office insists that public debt will not exceed 50% of GDP over the next 10 years, despite the government's hefty investment plan for big-ticket infrastructure projects worth 2 trillion baht.
The SET aims for its market capitalisation to equal that of the Singapore Exchange by 2023 as it seeks sustainable growth through initial public offerings and new products.
The Thai National Shippers' Council is maintaining its 8% export growth projection even as shipments in April grew by 12.3% year-on-year, the 14th consecutive month of growth.
Local consumer sentiment slipped in May on concerns over the pace of economic recovery, with rising oil prices and lower commodity prices adding to high living costs.
Major and former major shareholders of SET-listed Super Energy Corporation Plc have dismissed rumours surrounding the company's equity sales and debt payment ability following a steep plunge in the share price. There was a rumour circulating that Pradej Kitti-itsaranon, a former major shareholder, would sell all of his shares if the price dropped to 1.50 baht.
True Move has reiterated its intention to sit out the 1800-megahertz spectrum auction scheduled for August in a statement to the SET aimed at responding to widespread speculation on the company's shares.
PTT Global Chemical Plc will revive its investment plan for a polylactic acid (PLA) plant in Rayong later this year. PLA is a biodegradable plastic used as a raw material for plates, bowls and cups.
The Thai Sugar Millers Corporation forecasts sugar global prices to decline to between 11 and 12 cents per pound (3.52 to 3.84 baht) in the 2018-19 season as worldwide cane output exceeds 203-205 million tonnes.
Coming up: China will release data tomorrow on new yuan loans for May. Britain will release April trade figures on Monday.
Britain will release April unemployment figures on Tuesday. Due the same day is the ZEW economic sentiment survey for June in the euro zone, and US consumer prices for May.
Britain will release May inflation data on Wednesday.
Stocks to watch: Krungsri Securities recommends BANPU and LANNA as coal prices are at an 18-month high. It also advises watching domestic banking, retail and construction stocks that could benefit from the election. Elsewhere, stocks that have bottomed out and are expected to recover include CPF, BANPU, TKN, EPG and ANAN.
Kasikorn Securities recommends property firms with projects close to the BTS and MRT, such as AP, LH, SPALI, QH and ORI. Among the banks, it likes those with rising loan growth and NPLs under control, such as BBL, TISCO and KTB.
Technical View: DBS Vickers Securities Thailand sees support at 1,725 points and resistance at 1,760. Finansia Syrus Securities sees support at 1,725 and resistance at 1,750.
