Yesterday's Market Snapshot 11/08/10

Stocks and Financial Services Press Releases Wednesday August 11, 2010 11:12
Bangkok--11 Aug--UOB Bullion and Futures

The SET50 Index June futures opened at 590.5. After the bell, the contract hit the intraday high of 591.0. Later, the contract fell sharply during both sessions, and hit its lowest level of 580.0. The contract settled at 581.9, down 10.7 points with trading volume of 8,518.

This Morning Trend
U.S. stocks fell on Tuesday but closed off their lows after the Federal Reserve said it would take new steps to counter a weak recovery.
The Dow, which was down about 100 points before the Fed's announcement, briefly turned positive, though buying interest waned on the Fed's more pessimistic assessment of the economy.
Asian stocks are expected to open lower on Wednesday as pessimism about recovery overshadows the U.S. Federal Reserve's move to offer more support for the economy.

Japan's Nikkei average dropped more than 2 percent on Wednesday, hurt by the yen's strength versus the dollar after the Federal Reserve announced plans to boost a flagging U.S. economy by reinvesting money from maturing mortgage bonds in government debt.

Gold Market Snapshot
Gold futures August contract in Thailand settled down THB 100 at THB 18,270 on the TFEX market with volume of 1,657 contracts.
Gold prices turned higher on Tuesday as safe-haven demand increased after the U.S. Federal Reserve said it would buy more government debt to boost a sputtering economic recovery.
Spot gold was at $1,204.15 an ounce at 3:43 p.m. EDT (1943 GMT), up from $1,200 late in New York on Monday.
U.S. gold futures for December delivery were up $3.80 at $1,206.40 an ounce, after settling at $1,198 prior to the FOMC statement.
For more information, please contact us, UOB Bullion and Futures. Tel. 0.-213-2611 >>

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