Thailand’s stock market is expected to rebound again on Thursday

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(RTTNews) – The Thai stock market on Wednesday marked the end of a five-day winning streak in which it had climbed nearly 30 points or 1.9%. Thailand’s stock market now sits just above the 1,615 plateau, although it is eyeing further support on Thursday.

Global forecasts for Asian markets are optimistic thanks to easing inflation fears. European and US markets were solidly higher and Asian exchanges are expected to open similarly.

The SET ended slightly lower on Wednesday as losses in financials and technology stocks were mitigated by support from energy companies.

For the day, the index lost 1.59 points or 0.10% to end at 1,617.21 after trading between 1,606.09 and 1,618.07. The volume was 17.855 billion shares worth 67.116 billion baht. There were 1,148 declines and 573 gains, with 487 shares remaining unchanged.

Among assets, Advanced Info fell 1.46%, while Thailand Airport rose 0.35%, Asset World rose 0.97%, Banpu jumped 3.94%, Grimm added. 0.63%, BTS Group gained 0.58%, CP All Public improved 0.82%, Charoen Pokphand Foods climbed 2.94%, Energy Absolute rose 0.30%, Gulf gained 0 .50%, IRPC rose 0.58%, Kasikornbank fell 0.33%, KCE Electronics fell 8.00%, Krung Thai Bank fell 1.23%, Krung Thai Card sank 0 .84%, PTT strengthened by 1.38%. , PTT Exploration and Production sank 0.64%, PTT Global Chemical rose 0.54%, SCG Packaging climbed 0.89%, Siam Commercial Bank fell 1.88%, Siam Concrete slipped 1 .08%, Thai Oil rebounded 2.45%, TTB Bank fell 0.83% and Bangkok Bank, Bangkok Dusit Medical, Bangkok Expressway, PTT Oil & Retail and True Corporation remained unchanged.

Wall Street’s advance is broadly positive as major averages opened firmly higher on Wednesday and remained that way throughout the day, ending at three-month closing highs.

The Dow Jones jumped 535.10 points or 1.63% to end at 33,309.51, while the NASDAQ jumped 360.88 points or 2.89% to end at 12,854.80 and the S&P 500 jumped 87.77 points or 2.13% to close at 4,210.24.

The rally on Wall Street came after the Labor Department released a report showing US consumer prices fell unexpectedly flat in July.

Weaker-than-expected inflation data has led to speculation that the Federal Reserve may slow the pace of interest rate hikes at its September meeting.

Crude oil prices rose on Wednesday, lifted by data showing a bigger-than-expected drop in U.S. gasoline inventories last week. The weak dollar and increased demand for gasoline also contributed to the surge in oil prices. West Texas Intermediate crude oil futures ended up $1.43 or 1.6% at $91.93 a barrel.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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