Win Streak May Continue For Thai Stock Market – RTT News

The Thai stock market has finished higher in two straight sessions, gathering almost 10 points of 0.6 percent along the way. The Stock Exchange of Thailand now rests just below the 1,585-point plateau, and the market is looking at another positive lead for Wednesday.

The global forecast for the Asian markets is cautiously optimistic ahead of Fed minutes and jobless data later this week. The European and U.S. markets were slightly higher, and the Asian markets are tipped to follow suit.

The SET finished slightly higher on Tuesday as the financial shares and energy producers were mostly in the green.

For the day, the index collected 2.96 points or 0.19 percent to finish at 1,583.82 after trading between 1,579.07 and 1,586.04. Volume was 11.658 billion shares worth 37.273 billion baht. There were 542 decliners and 534 gainers, with 412 stocks finishing unchanged.

Among the actives, Advanced Info shed 1.14 percent, while Airport of Thailand jumped 1.27 percent, Banpu surged 4.00 percent, Bangkok Bank collected 0.55 percent, Bangkok Expressway gained 0.66 percent, Kasikornbank climbed 1.05 percent, PTT Exploration and Production spiked 2.11 percent, PTT Global Chemical dropped 1.71 percent and PTT was unchanged.

The lead from Wall Street suggests mild upside as stocks showed a lack of direction on Tuesday before finishing slightly higher.

The Dow was up 39.03 points or 0.2 percent to 20,689.24, while the NASDAQ inched up 3.93 points or 0.1 percent to 5,898.61 and the S&P added 1.32 points or 0.1 percent to 2,360.16.

The choppy trading came ahead of key events later this week, including Friday’s monthly jobs report and the release of the minutes of the latest Federal Reserve meeting later today.

In economic news, the Commerce Department noted that the U.S. trade deficit narrowed by more than expected in February. Also, the Commerce Department reported a continued increase in factory orders in February.

Crude oil futures edged higher Tuesday as U.S. inventories may finally have dwindled from record highs. West Texas Intermediate crude for May delivery on the New York Mercantile Exchange rose 79 cents or 1.6 percent to a four-week high of $51.03 a barrel.

by RTT Staff Writer

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