Thai Bourse Due For Consolidation On Tuesday.

The Thai stock market has tracked higher in three straight sessions, collecting more than 20 points or 1.4 percent along the way. The Stock Exchange of Thailand now sits just above the 1,435-point plateau although it may be stuck in neutral on Tuesday.

The global forecast for the Asian markets suggests little movement ahead of the Federal Reserve’s Monetary Policy decision later this week. The European and U.S. markets were mixed and little changed and the Asian bourses figure to follow suit.

The SET finished modestly higher on Monday following gains from the food, consumer, industrial, property, resource and service sectors.

For the day, the index added 11.14 points or 0.78 percent to finish at 1,435.53 after trading between 1,425.89 and 1,436.80. Volume was 13.172 billion shares worth 61.118 billion baht. There were 357 gainers and 142 decliners, with 179 stocks finishing unchanged.

Among the actives, Advanced Info slumped 1.54 percent, while Thailand Airport gained 0.80 percent, Asset World rallied 3.31 percent, Banpu soared 2.46 percent, Bangkok Bank sank 0.63 percent, Bangkok Dusit Medical advanced 1.71 percent, B. Grimm strengthened 1.30 percent, BTS Group lost 0.42 percent, CP All Public climbed 1.167 percent, Charoen Pokphand Foods shed 0.40 percent, Energy Absolute skyrocketed 29.63 percent, Gulf dropped 0.89 percent, Krung Thai Bank lost 0.49 percent, Krung Thai Card spiked 2.76 percent, PTT Oil & Retail improved 1.80 percent, PTT added 0.76 percent, PTT Exploration and Production skidded 1.08 percent, PTT Global Chemical surged 5.50 percent, Siam Concrete accelerated 3.32 percent, True Corporation jumped 1.90 percent, TTB Bank plunged 2.97 percent and Kasikornbank, Siam Commercial Bank, SCG Packaging, Thai Oil and Bangkok Expressway were unchanged.

The lead from Wall Street offers little clarity as the major averages opened mixed on Monday, largely hugged the line throughout the session and ended little changed.

The Dow advanced 228.30 points or 0.55 percent to finish at a record 41,622.08, while the NASDAQ slumped 91.85 points or 0.52 percent to close at 17,592.13 and the S&P 500 rose 7.07 points or 0.13 percent to end at 5,633.09.

The lackluster performance on Wall Street came as investors looked ahead to Wednesday’s Federal Reserve’s monetary policy announcement and stayed largely cautious and selective.

The Fed is widely expected to lower interest rates, but there remains some debate about the size of the rate cut. CME Group’s FedWatch Tool is currently indicating a 65.0 percent chance of a half-point rate cut and a 35.0 percent chance of a quarter-point rate cut.

On the economic front, the Federal Reserve Bank of New York released a report showing regional manufacturing grew for the first time in nearly a year in the month of September.

Oil prices climbed higher on Monday as concerns about tight supply outweighed demand outlook, while a weak dollar also contributed to the rise in oil prices. West Texas Intermediate crude oil futures for October ended higher by $1.44 at $70.09 a barrel.