The Thai stock market bounced higher again on Monday, one session after snapping the three-day winning streak in which it had gathered almost 25 points or 1.3 percent. The Stock Exchange of Thailand now sits just above the 1,675-point plateau and it’s looking at a green light again for Tuesday’s trade.
The global forecast for the Asian markets suggests mild upside, supported by crude oil prices and optimism for economic recovery. The European markets were up and the U.S. markets were off on holiday, and the Asian markets are also expected to tick higher.
The SET finished slightly higher on Monday following mixed performances from the financial shares and the energy producers.
For the day, the index rose 4.24 points or 0.25 percent to finish at 1,676.87 after trading between 1,680.39 and 1,672.93. Volume was 31.128 billion shares worth 82.389 billion baht. There were 1,011 decliners and 630 gainers, with 552 stocks finishing unchanged.
Among the actives, Advanced Info dropped 0.91 percent, while Thailand Airport jumped 1.65 percent, Asset World advanced 0.88 percent, Bangkok Bank collected 0.39 percent, Bangkok Expressway shed 0.61 percent, BTS Group lost 0.54 percent, CP All Public gained 0.86 percent, Energy Absolute rallied 2.41 percent, Gulf spiked 3.48 percent, IRPC added 0.49 percent, Kasikornbank dipped 0.34 percent, Krung Thai Bank sank 0.72 percent, Krung Thai Card tanked 2.05 percent, PTT Exploration and Production declined 0.81 percent, PTT Global Chemical retreated 1.65 percent, SCG Packaging fell 0.40 percent, Siam Commercial Bank skidded 0.78 percent, Siam Concrete eased 0.26 percent, True Corporation was down 0.85 percent, TTB Bank climbed 1.39 percent and Banpu, Bangkok Dusit Medical, Charoen Pokphand Foods, PTT Oil & Retail and PTT were unchanged.
There is no lead from Wall Street as the markets were off Monday for the Martin Luther King Jr. holiday and will return to action on Tuesday.
The European markets provide a positive secondary lead, thanks to a combination of bargain hunting, slowing coronavirus numbers and economic optimism.
Financials, technology stocks and industrials are all looking at support.
Crude oil prices moved modestly higher on Thursday, with the upside capped by news that the Trans Mountain pipeline returned to normal operations following a two-month disruption. West Texas Intermediate crude for February delivery added $0.48 or 0.57 percent to $84.30 per barrel.
Market Analysis
Higher Open Predicted For Thai Stock Market
2022-01-18 02:32:42
