The Thai stock market has moved higher in back-to-back trading days, collecting almost 15 points or 0.9 percent along the way. The Stock Exchange of Thailand now rests just above the 1,550-point plateau and it’s called to open higher again on Friday.
The global forecast for the Asian markets is upbeat as they continue to recover from recent selling, supported mainly by crude oil prices. The European and U.S. markets were up and the Asian bourses figure to open in similar fashion.
The SET finished modestly higher on Thursday following gains from the financial shares and the energy producers.
For the day, the index gained 11.48 points or 0.74 percent to finish at 1,552.36 after trading between 1,546.26 and 1,554.65. Volume was 23.496 billion shares worth 69.687 billion baht. There were 842 gainers and 728 decliners, with 550 stocks finishing unchanged.
Among the actives, Advanced Info shed 0.28 percent, while Bangkok Bank rallied 2.45 percent, Bangkok Dusit Medical added 0.44 percent, Bangkok Expressway climbed 1.26 percent, BTS Group gained 0.55 percent, Charoen Pokphand Foods and Kasikornbank both jumped 1.90 percent, Krung Thai Bank surged 4.95 percent, PTT perked 0.69 percent, PTT Exploration and Production rose 0.46 percent, PTT Global Chemical advanced 0.87 percent, Siam Commercial Bank soared 4.38 percent, Siam Concrete spiked 1.96 percent, TTB Bank gathered 1.01 percent and Thailand Airport, Gulf, Krung Thai Card, PTT Oil & Retail and SCG Packaging were unchanged.
The lead from Wall Street is positive as the major averages opened mixed on Thursday but all headed higher in the afternoon and finished in the green.
The Dow added 25.35 points or 0.07 percent to finish at 34,823.35, while the NASDAQ gained 52.64 points or 0.36 percent to end at 14,684.60 and the S&P 500 rose 8.79 points or 0.20 percent to close at 4,367.48.
The modestly higher close on Wall Street reflected recent upward momentum as stocks continued to recover from the sell-off on Monday. However, traders seemed reluctant to make significant moves following the recent volatility.
In economic news, the Labor Department reported an unexpected increase in initial jobless claims last week. Also, the National Association of Realtors said existing home sales rebounded in June following four straight monthly declines.
Crude oil futures settled higher on Thursday, gaining for a third successive day, thanks to reports showing strong gasoline demand and a rebound in distillate fuels. West Texas Intermediate crude oil futures for September ended up $1.61 or 2.3 percent at $71.91 a barrel.
Market Analysis
Thai Stock Market Tipped To Open In The Green On Friday
2021-07-23 02:30:09
