The Thai stock market on Monday snapped the three-day slide in which it had fallen almost 25 points or 1.7 percent. The Stock Exchange of Thailand now sits just above the 1,500-point plateau and it may tick higher again on Tuesday.
The global forecast for the Asian markets suggests mild upside, with tech and oil shares likely to lead the way. The European markets were down and the U.S. bourses were mostly higher and the Asian markets figure to follow the latter lead.
The SET finished slightly higher on Monday following gains from the cement and packaging companies, while the energy producers were mixed and the financials were soft.
For the day, the index rose 3.74 points or 0.25 percent to finish at 1,501.62 after trading between 1,491.63 and 1,505.47. Volume was 28.572 billion shares worth 82.777 billion baht. There were 869 decliners and 720 gainers, with 389 stocks finishing unchanged.
Among the actives, Advanced Info shed 0.56 percent, while Asset World skidded 1.28 percent, Bangkok Asset Management added 0.47 percent, Bangkok Bank dropped 1.23 percent, Bangkok Dusit Medical spiked 237 percent, Bangkok Expressway sank 1.21 percent, BTS Group collected 0.52 percent, Charoen Pokphand Foods advanced 0.88 percent, Kasikornbank tumbled 1.94 percent, PTT perked 1.27 percent, PTT Exploration and Production lost 0.90 percent, PTT Global Chemical climbed 1.22 percent, SCG Packaging surged 5.38 percent, Siam Commercial Bank plunged 2.65 percent, Siam Concrete gained 0.76 percent, TMB Bank retreated 0.86 percent and Thailand Airport, Gulf and Krung Thai Bank were unchanged.
The lead from Wall Street is mixed as stocks fluctuated throughout the trading day on Monday before ending on opposite sides of the unchanged line.
The Dow fell 36.98 points or 0.12 percent to finish at 30,960.00, while the NASDAQ jumped 92.93 points or 0.69 percent to end at a record 13,635.99 and the S&P 500 rose 13.89 points or 0.36 percent to close at a record 3,855.36.
The continued advance by the NASDAQ came as traders expressed optimism about upcoming earnings from big-name tech companies such as Tesla (TSLA), Apple (AAPL) and Microsoft (MSFT). On the other hand, the drop by the Dow came as American Express (AXP) and Caterpillar (CAT) slipped ahead of their quarterly results.
Traders also kept an eye on developments in Washington amid reports of growing Republican opposition to President Joe Biden’s proposed $1.9 trillion stimulus package.
Crude oil futures settled higher on Monday amid expectations of a drop in crude supplies following reports that oil exports have been halted at some Libyan ports due to a dispute over wages. West Texas Intermediate Crude oil futures for March ended up $0.50 or 1 percent at $52.77 a barrel.
Market Analysis
Mild Upside Seen For Thai Stock Market
2021-01-26 02:30:11
