The Thai stock market has moved higher in two of three trading day since the end of the two-day losing streak in which it had fallen almost 15 points or 1 percent. The Stock Exchange of Thailand now rests just above the 1,525-point plateau and it’s likely to remain in that neighborhood again on Tuesday.
The global forecast is mixed to lower, with crude oil prices and covid concerns expected to weigh on sentiment. The European markets were up and the U.S. bourses were mostly lower and the Asian markets are tipped to follow the latter lead.
The SET finished slightly higher on Monday following gains from the energy producers and a mixed picture from the financial shares.
For the day, the index rose 3.19 points or 0.21 percent to finish at 1,525.11 after trading between 1,513.71 and 1,525.73. Volume was 23.061 billion shares worth 66.337 billion baht. There were 1,051 decliners and 590 gainers, with 455 stocks finishing unchanged.
Among the actives, Advanced Info added 0.56 percent, while Thailand Airport advanced 0.88 percent, Bangkok Ban dropped 0.98 percent, Bangkok Medical gained 0.44 percent, BTS skidded 1.18 percent, Charoen Pokphand Foods jumped 1.92 percent, IRPC improved 0.57 percent, Indorama Ventures soared 4.14 percent, Kasikornbank sank 0.97 percent, Krung Thai Bank spiked 3.96 percent, Krung Thai Card tanked 2.02 percent, PTT Oil & Retail climbed 0.90 percent, PTT perked 0.72 percent, PTT Exploration and Production rallied 2.43 percent, PTT Global Chemical accelerated 2.20 percent, Siam Packaging fell 0.36 percent, Siam Commercial Bank collected 0.27 percent, Siam Cement jumped 0.97 percent, TTB Bank retreated 1.03 percent and Bangkok Expressway and Gulf were unchanged.
The lead from Wall Street is uninspired as the major averages opened firmly higher on Monday but faded as the session progressed – finally ending mixed and little changed.
The Dow shed 97.31 points or 0.28 percent to finish at 34,838.16, while the NASDAQ rose 8.39 points or 0.06 percent to end at 4,681.07 and the S&P 500 fell 8.10 points or 0.18 percent to close at 4,387.16.
The early strength on Wall Street reflected optimism about the outlook for the economy amid indications the Federal Reserve is not in a hurry to begin scaling back stimulus.
Positive sentiment may also have been generated after a bipartisan group of Senators unveiled a nearly $1 trillion infrastructure package.
However, buying interest waned after the Institute for Supply Management noted an unexpected slowdown in the pace of growth in U.S. manufacturing activity in July. Also, the Commerce Department said construction spending crept up by less than expected in June.
Crude oil prices fell sharply Monday due to rising concerns about the outlook for energy demand amid a surge in the delta variant of the coronavirus in several countries. West Texas Intermediate Crude oil futures for September plunged $2.69 or 3.6 percent at $71.26 a barrel.
Closer to home, Thailand will see July results for its business confidence index later today; in June, the index score was 46.2.
Market Analysis
Thai Stock Market Has Flat Lead For Tuesday’s Trade
2021-08-03 02:30:12
