The Thai stock market has tracked higher in two straight sessions, gathering more than a dozen points or 0.7 percent along the way. The Stock Exchange of Thailand now sits just beneath the 1,690-point plateau and it’s predicted to add to its winnings on Wednesday.
The global forecast for the Asian markets is broadly positive on hopes for a cease fire between Russia and Ukraine. The European and U.S. markets were up and the Asian bourses figure to follow that lead.
The SET finished modestly higher on Tuesday following mixed performances from the financial shares and energy producers.
For the day, the index rose 5.44 points or 0.32 percent to finish at 1,689.74 after trading between 1,692.90 and 1,686.84. Volume was 25.423 billion shares worth 76.796 billion baht. There were 915 decliners and 766 gainers, with 641 stocks finishing unchanged.
Among the actives, Advanced Info rallied 2.16 percent, while Thailand Airport gained 0.76 percent, Asset World added 0.40 percent, Banpu advanced 0.88 percent, BTS Group shed 0.55 percent, CP All Public gathered 0.78 percent, Charoen Pokphand Foods rose 0.41 percent, Energy Absolute strengthened 1.57 percent, Gulf accelerated 2.04 percent, Kasikornbank collected 0.32 percent, Krung Thai Bank sank 0.74 percent, Krung Thai Card fell 0.40 percent, PTT Oil & Retail dropped 0.99 percent, PTT lost 0.64 percent, PTT Exploration and Production dipped 0.33 percent, PTT Global Chemical declined 0.48 percent, SCG Packaging surged 4.41 percent, Siam Concrete eased 0.26 percent, True Corporation climbed 1.00 percent and TTB Bank, Bangkok Bank, Bangkok Dusit Medical, Bangkok Expressway, B. Grimm, IRPC and Siam Commercial Bank were unchanged.
The lead from Wall Street is solid as the major averages opened firmly higher on Tuesday and stayed that way throughout the session.
The Dow surged 338.30 points or 0.97 percent to finish at 35,294.19, while the NASDAQ soared 264.73 points or 1.84 percent to end at 14,619.64 and the S&P 500 climbed 56.08 points or 1.23 percent to close at 4,631.08.
Reports about encouraging progress in a cease-fire talks between Russia and Ukraine in Turkey helped lift investor sentiment on Wall Street.
In economic news, the Labor Department said the number of job openings in the United States was little changed in February, while the S&P CoreLogic Case-Shiller 20-city home price index rose 19.1 percent in January. And the Conference Board showed an unexpected improvement in U.S. consumer confidence in March.
Crude oil prices dropped on Tuesday amid easing worries about global crude supply after positive reports of the peace talks. West Texas Intermediate crude futures for May ended down by $1.72 or 1.6 percent at $104.24 a barrel.
Closer to home, the central bank in Thailand will wrap up its monetary policy meeting on Wednesday 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.
Thailand also will see February figures for industrial production, with forecasts suggesting an increase of 2.5 percent on year – accelerating from 1.99 percent in January.
Market Analysis
Additional Support Expected For Thai Stock Market
2022-03-30 02:30:10
