The Thai stock market on Friday snapped the two-day slide in which it had plummeted almost 50 points or 3 percent. The Stock Exchange of Thailand now rests just above the 1,550-point plateau and it may add to its winnings on Monday.
The global forecast for the Asian markets is cautiously optimistic on positive economic cues, although a coronavirus resurgence may cap the upside. The European and U.S. markets were sharply higher and the Asian bourses are tipped to open in similar fashion.
The SET finished modestly higher on Friday following gains from the financial shares and the energy producers.
For the day, the index added 8.42 points or 0.55 percent to finish at 1,552.09 after trading between 1,535.69 and 1,554.60. Volume was 30.360 billion shares worth 85.261 billion baht. There were 767 decliners and 761 gainers, with 475 stocks finishing unchanged.
Among the actives, Advanced Info rose 0.30 percent, while Thailand Airport shed 0.41 percent, Bangkok Bank collected 0.48 percent, Bangkok Expressway added 0.63 percent, BTS Group lost 0.56 percent, Charoen Pokphand Foods jumped 1.94 percent, Kasikornbank spiked 2.24 percent, Krung Thai Bank rallied 2.00 percent, Krung Thai Card soared 3.11 percent, PTT Exploration and Production skidded 1.31 percent, PTT Global Chemical gained 0.43 percent, SCG Packaging retreated 1.59 percent and Siam Commercial Bank, Siam Concrete, TTB Bank, Bangkok Dusit Medical, Gulf, PTT Oil & Retail and PTT all were unchanged.
The lead from Wall Street is broadly upbeat as stocks opened firmly higher on Friday and accelerated into the close to fresh record highs.
The Dow spiked 448.26 points or 1.30 percent to finish at 34,870.16, while the NASDAQ climbed 142.12 points or 0.98 percent to end at 14,701.92 and the S&P 500 climbed 48.73 points or 1.13 percent to close at 4,369.55. For the week, the Dow rose 0.2 percent and the NASDAQ and S&P both added 0.4 percent.
Despite worries about the spread of the delta variant of the coronavirus, traders seem optimistic the U.S. economy will continue to outperform.
A rebound by treasury yields also generated buying interest, with the yield on the benchmark ten-year note bouncing off its lowest closing level since February.
Crude oil futures settled higher Friday, extending gains from the previous session following a bigger than expected drop in U.S. crude inventories last week. West Texas Intermediate Crude oil futures for August settled at $74.56, gaining $1.62 or 2.2 percent in the session.
Market Analysis
Thai Stock Market Has Solid Lead For Monday’s Trade
2021-07-12 02:30:10
