Thai Stock Market May Inch Higher Again On Friday – Nasdaq

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(RTTNews.com) – The win streak has hit four sessions now for the Thai stock market, which has advanced almost 25 points or 1.6 percent along the way. The Stock Exchange of Thailand now rests just beneath the 1,570-point plateau and it is tipped to open slightly higher again on Friday.

The global forecast for the Asian markets continues to call for slim gains, with optimism over earnings news capped by a sharp drop in crude oil prices. The European markets were flat and the U.S. markets were slightly higher, and the Asian bourses figure to split the difference.

The SET finished slightly higher on Thursday following gains from the coal miners and the airport.

Among the actives, Advanced Info shed 0.28 percent, while Airport of Thailand climbed 0.60 percent, Banpu added 0.55 percent, Bangkok Bank collected 0.28 percent, Bangkok Medical spiked 2.20 percent, Bangkok Expressway perked 2.10 percent, Kasikornbank lost 0.26 percent, Krung Thai Bank fell 0.52 percent, PTT dipped 0.25 percent, PTT Exploration and Production skidded 0.53 percent, PTT Global Chemical tumbled 1.02 percent and Siam Concrete was unchanged.

The lead from Wall Street suggests mild upside as stocks moved slightly higher on Thursday, extending their recent winning streak to six sessions.

The Dow rose 70.53 points or 0.3 percent to 21,082.95, while the NASDAQ advanced 42.23 points or 0.7 percent to 6,205.26 and the S&P added 10.68 points or 0.4 percent to 2,415.07.

The gains followed upbeat earnings news from big-name retailers, which helped offset recent concerns about consumer spending. Best Buy ( BBY ) and Sears (SHLD) were the big winners.

In economic news, the Labor Department saw a slight uptick in first-time claims for jobless benefits in the week ended May 20th.

Crude oil futures plunged Thursday, despite news that OPEC will extend its supply quota plan. June WTI oil settled at $48.90/bbl, down $2.46 or 4.8 percent.

Closer to home, Thailand will see April data for imports, exports and trade balance later today. In March, imports were worth $17.84 billion and exports were at $20.75 billion for a trade surplus of $2.91 billion.

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