The Thai stock market has finished higher in three straight sessions, advancing more than 30 points or 2 percent along the way. The Stock Exchange of Thailand now sits just above the 1,575-point plateau and it’s looking at another green light for Friday’s trade.
The global forecast for the Asian markets is upbeat, with support expected from the oil and technology stocks. The European and U.S. markets were up and the Asian bourses are expected to open in similar fashion.
The SET finished slightly higher on Thursday following mixed performances from the financial shares and energy producers.
For the day, the index rose 2.08 points or 0.13 percent to finish at 1,575.13 after trading between 1,569.87 and 1,584.61. Volume was 29.653 billion shares worth 102.012 billion baht. There were 888 decliners and 677 gainers, with 476 stocks finishing unchanged.
Among the actives, Advanced Info dropped 0.87 percent, while Thailand Airport climbed 1.46 percent, Asset World advanced 0.92 percent, Bangkok Asset Management jumped 1.86 percent, Bangkok Bank shed 0.40 percent, Bangkok Dusit Medical skidded 1.37 percent, Bangkok Expressway lost 0.57 percent, BTS Group retreated 1.05 percent, Charoen Pokphand Foods soared 4.24 percent, Gulf sank 0.74 percent, Kasikornbank collected 0.67 percent, Krung Thai Bank fell 0.81 percent, PTT Oil & Retail declined 0.82 percent, PTT Exploration and Production gained 0.84 percent, PTT Global Chemical was down 0.74 percent, Siam Commercial Bank surrendered 0.89 percent, Siam Concrete slid 0.80 percent and SCG Packaging, TMB Bank and PTT were unchanged.
The lead from Wall Street is broadly positive as stocks opened higher and picked up steam as the day progressed, with the Dow and S&P hitting fresh record closing highs.
The Dow jumped 188.57 points or 0.58 percent to finish at 32,485.59, while the NASDAQ surged 329.84 points or 2.52 percent to end at 13,398.67 and the S&P 500 spiked 40.53 points or 1.04 percent to close at 3,939.34.
Technology stocks helped lead the way higher amid continued bargain hunting, which led to the NASDAQ’s biggest single-day gain since last November on Tuesday.
The markets also benefited from optimism about the impact of more fiscal stimulus after the House passed a $1.9 trillion relief package, which President Joe Biden has signed into law.
Buying interest may also have been generated by a report from the Labor Department showing first-time claims for U.S. unemployment benefits fell to a four-month low last week.
Crude oil futures moved sharply higher on Thursday, extending the rebound seen in the previous session amid optimism about the outlook for energy demand. West Texas Intermediate jumped $1.58 or 2.45 percent to $66.02 per barrel.
Market Analysis
Win Streak Tipped To Continue For Thai Stock Market
2021-03-12 02:30:11
