The Thai stock market on Tuesday ended the two-day slide in which it had given up less than a single point. The Stock Exchange of Thailand now rests just above the 1,630-point plateau predicted to open under pressure on Wednesday.
The global forecast for the Asian markets suggests mild consolidation after several days of gains, although support from crude oil prices should limit the downside. The European and U.S. markets were slightly lower and the Asian markets are expected to open in similar fashion.
The SET finished slightly higher on Tuesday following gains from the energy producers and a mixed picture from the financial shares.
For the day, the index rose 5.56 points or 0.34 percent to finish at 1,631.69 after trading between 1,623.64 and 1,633.76. Volume was 25.109 billion shares worth 71.995 billion baht. There were 892 gainers and 792 decliners, with 558 stocks finishing unchanged.
Among the actives, Advanced Info added 0.52 percent, while Thailand Airport skidded 1.11 percent, Bangkok Bank shed 0.39 percent, Bangkok Dusit Medical advanced 0.84 percent, Bangkok Expressway climbed 1.11 percent, BTS Group jumped 1.57 percent, CP All Public retreated 1.51 percent, Delta Electronics tanked 2.30 percent, Gulf gained 0.60 percent, IRPC gathered 0.96 percent, Kasikornbank fell 0.34 percent, Krung Thai Card rallied 2.16 percent, PTT Oil & Retail dropped 0.95 percent, PTT Exploration and Production rose 0.42 percent, PTT Global Chemical perked 0.40 percent, Siam Commercial Bank collected 0.38 percent, Siam Concrete sank 0.75 percent, TTB Bank was up 0.86 percent and Charoen Pokphand Foods, Krung Thai Bank, PTT and SCG Packaging were unchanged.
The lead from Wall Street is negative as the major averages opened lower on Tuesday and spent the entire session in the re easing from record closing highs.
The Dow skidded 112.24 points or 0.31 percent to finish at 36,319.98, while the NASDAQ lost 95.81 points or 0.60 percent to close at 15,886.54 and the S&P 500 fell 16.45 points or 0.35 percent to end at 4,695.25.
Crude oil futures settled sharply higher on Tuesday amid rising hopes about the outlook for energy demand after the United States lifted travel restrictions to several countries. West Texas Intermediate Crude oil futures for December ended up by $2.22 or 2.7 percent at $84.15 a barrel.
The pullback on Wall Street partly reflected profit taking, as some traders cashed in on the recent strength in the markets.
Economic news may begin to attract increased attention, as investors try to gauge when the Federal Reserve will start to begin raising interest rates. The Fed has announced plans to begin scaling back its asset purchases but signaled that it will not be in a hurry to raise rates.
On the U.S. economic front, the Labor Department released a report showing producer prices increased by slightly more than anticipated in October.
Closer to home, the central bank in Thailand will wrap up its monetary policy meeting later today and then announce its decision on interest rates; the central bank is widely expected to keep its benchmark lending rate unchanged at 0.50 percent.
Market Analysis
Lower Open Anticipated For Thai Stock Market
2021-11-10 02:30:07
