The Thai stock market has finished higher in two of three trading days since the end of 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 1,570-point plateau although it’s expected to head south again on Wednesday.
The global forecast for the Asian markets is soft, with inflation concerns offset by support from crude oil. The European and U.S. markets were down and the Asian bourses are tipped to open in similar fashion.
For the day, the index jumped 21.15 points or 1.36 percent to finish at 1,570.99 after trading between 1,555.88 and 1,571.82. Volume was 24.578 billion shares worth 75.222 billion baht. There were 1,239 gainers and 499 decliners, with 336 stocks finishing unchanged.
Among the actives, Advanced Info rose 0.29 percent, while Thailand Airport jumped 1.63 percent, Bangkok Bank climbed 1.42 percent, Bangkok Dusit Medical added 0.43 percent, Bangkok Expressway soared 3.18 percent, BTS Group improved 1.12 percent, Charoen Pokphand Foods surged 3.96 percent, Gulf gathered 1.52 percent, Kasikornbank spiked 1.75 percent, Krung Thai Bank collected 1.96 percent, Krung Thai Card rallied 2.63 percent, PTT accelerated 2.03 percent, PTT Exploration and Production perked 1.79 percent, PTT Global Chemical skyrocketed 5.94 percent, SCG Packaging gained 2.43 percent, Siam Commercial Bank increased 1.61 percent, Siam Concrete strengthened 2.43 percent, TTB Bank advanced 0.99 percent and PTT Oil & Retail was unchanged.
The lead from Wall Street is negative as stocks opened lower on Tuesday and then bounced back and forth across the unchanged line before ending in the red.
The Dow dropped 107.39 points or 0.31 percent to finish at 34,888.79, while the NASDAQ sank 55.59 points or 0.38 percent to end at 14,677.65 and the S&P 500 fell 15.42 points or 0.35 percent to close at 4,369.21.
Stocks moved lower in afternoon trading as treasury yields rose after the Treasury Department revealed this month’s auction of $24 billion worth of thirty-year bonds.
The lower close on Wall Street also came after the Labor Department released a report showing consumer prices in the U.S. saw the biggest monthly increase in thirteen years in June.
On the earnings front, financial giants JPMorgan Chase (JPM) and Goldman Sachs (GS) both saw quarterly results that beat estimates, while snack and beverage giant PepsiCo (PEP) also reported better than expected second quarter results.
Crude oil prices rose sharply on Tuesday amid expectations crude stockpiles may have dropped last week. West Texas Intermediate Crude oil futures for August ended up $1.15 or 1.6 percent at $75.25 a barrel.
Renewed Selling Pressure Likely For Thai Bourse
2021-07-14 02:30:16
