The Thai stock market has finished higher in three straight sessions, rising almost 15 points or 0.9 percent in that span. The Stock Exchange of Thailand now rests just above the 1,625-point plateau although it’s likely to run out of steam on Thursday.
The global forecast for the Asian markets is slightly soft ahead of key U.S. inflation data later today. The European markets were mixed and the U.S. bourses were down and the Asian markets figure to split the difference.
The SET finished modestly higher on Wednesday following gains from the financial shares and the energy producers.
For the day, the index advanced 13.39 points or 0.83 percent to finish at 1,626.27 after trading between 1,617.83 and 1,628.42. Volume was 31.018 billion shares worth 94.107 billion baht. There were 818 gainers and 719 decliners, with 547 stocks finishing unchanged.
Among the actives, Advanced Info added 0.58 percent, while Asset World spiked 3.24 percent, Bangkok Asset Management climbed 1.08 percent, Bangkok Bank rallied 2.55 percent, Bangkok Dusit Medical gained 0.46 percent, Bangkok Expressway jumped 1.83 percent, Charoen Pokphand Foods advanced 0.93 percent, Gulf gathered 1.46 percent, Kasikornbank accelerated 2.81 percent, Krung Thai Bank collected 1.82 percent, Krung Thai Card rose 0.35 percent, PTT Oil & Retail soared 2.50 percent, PTT perked 0.62 percent, PTT Global Chemical increased 0.81 percent, SCG Packaging fell 0.44 percent, Siam Commercial Bank was up 1.45 percent, Siam Concrete strengthened 0.95 percent, TTB Bank surged 0.86 percent and Thailand Airport, BTS Group and PTT Exploration and Production were unchanged.
The lead from Wall Street suggests mild consolidation as stocks opened mixed on Wednesday, bounced back and forth across the unchanged line and eventually ended slightly lower.
The Dow dropped 152.68 points or 0.44 percent to finish at 34,447.14, while the NASDAQ dipped 13.16 points or 0.09 percent to end at 13,911.75 and the S&P 500 eased 7.71 points or 0.18 percent to close at 4,219.55.
The cautious trade on Wall Street reflected concerns over key inflation data that could prompt the Federal Reserve to begin discussions on tapering its asset buying program sooner than expected.
In economic news, the Commerce Department said wholesale inventories rose 0.8 percent on month to $ 698.0 billion in April after seeing a 1.2 percent increase in March.
Crude oil prices edged lower on Wednesday after data showed a jump in U.S. gasoline stockpiles last week. West Intermediate crude oil futures for July ended down $0.09 or 0.1 percent at $69.96 a barrel.
Market Analysis
Rally Expected To Stall For Thai Stock Market
2021-06-10 02:31:19
