The Thai stock market has moved higher in two straight sessions, rising almost 20 points or 1.3 percent along the way. The Stock Exchange of Thailand now rests just above the 1,540-point plateau and it’s tipped to extend its gains again on Wednesday.
The global forecast for the Asian markets is positive on optimism for the outlook for interest rates, although weakness from crude oil may cap the upside. The European markets were mixed and the U.S. bourses were up and the Asian markets figure to split the difference.
The SET finished sharply higher on Tuesday following gains from the financial shares and the energy producers.
For the day, the index climbed 15.40 points or 1.01 percent to finish at 1,540.51 after trading between 1,524.37 and 1,540.52. Volume was 24.190 billion shares worth 69.692 billion baht. There were 1,175 gainers and 573 decliners, with 405 stocks finishing unchanged.
Among the actives, Advanced Info tumbled 1.94 percent, while Thailand Airport advanced 0.88 percent, Bangkok Bank climbed 1.48 percent, Bangkok Expressway rallied 2.61 percent, BTS Group jumped 1.79 percent, Gulf added 0.75 percent, Kasikornbank soared 3.43 percent, Krung Thai Bank collected 1.90 percent, Krung Thai Card spiked 2.89 percent, PTT Oil & Retail accelerated 1.79 percent, PTT gained 0.71 percent, PTT Global Chemical rose 0.86 percent, SCG Packaging skidded 1.45 percent, Siam Commercial Bank strengthened 2.67 percent, Siam Concrete gathered 1.44 percent, TTB Bank surged 2.08 percent and Bangkok Dusit Medical, Charoen Pokphand Foods and PTT Exploration and Production were unchanged.
The lead from Wall Street is upbeat as the major averages shook off early selling pressure on Tuesday to finish solidly in the green.
The Dow climbed 278.24 points or 0.80 percent to finish at 35,116.40, while the NASDAQ added 80.23 points or 0.55 percent to end at 14,761.29 and the S&P 500 gained 35.99 points or 0.82 percent to close at 4,423.15.
The higher close on Wall Street came as traders shrugged off concerns about the rapid spread of the delta variant of the coronavirus amid continued optimism about the economic outlook.
Recent data has shown some signs of slowing economic growth, but traders may see that as further proof the Federal Reserve will not begin scaling back stimulus anytime soon.
The price of crude oil saw further downside during trading on Tuesday, extending losses from the previous session on concerns over the outlook for demand. West Texas Intermediate crude sank $0.70 or 1 percent to $70.56 a barrel.
Thai Stock Market Has A Green Light For Wednesday’s Trade
2021-08-04 02:30:15
