Thai Shares Expected To Open To The Upside On Wednesday

(RTTNews) - The Thai stock market on Tuesday halted the three-day slide in which it had slipped slipping more than a dozen points or 0.8 percent. The Stock Exchange of Thailand now sits just above the 1,350-point plateau and it may open in the green again on Wednesday.

The global forecast for the Asian markets is positive on renewed optimism about the outlook for interest rates. The European and U.S. markets were up and the Asian bourses are expected to follow that lead.

The SET finished modestly higher on Tuesday following gains from the food, consumer, finance, property, resource, service and technology sectors.

For the day, the index gained 12.03 points or 0.90 percent to finish at 1,352.53 after trading between 1,343.23 and 1,357.50. Volume was 7.949 billion shares worth 38.012 billion baht. There were 370 gainers and 132 decliners, with 168 stocks finishing unchanged.

Among the actives, Advanced Info rallied 1.77 percent, while Thailand Airport rose 0.43 percent, Asset World and Krung Thai Card both jumped 1.97 percent, Banpu climbed 0.98 percent, Bangkok Bank collected 0.33 percent, Bangkok Dusit Medical soared 1.71 percent, Bangkok Expressway increased 0.75 percent, B. Grimm skyrocketed 6.04 percent, BTS Group accelerated 3.57 percent, CP All Public gained 0.89 percent, Energy Absolute surged 6.21 percent, Gulf added 0.42 percent, Kasikornbank dropped 0.94 percent, Krung Thai Bank shed 0.46 percent, PTT accelerated 1.63 percent, PTT Exploration and Production plunged 3.16 percent, PTT Global Chemical strengthened 1.42 percent, SCG Packaging spiked 2.34 percent, Siam Commercial Bank improved 0.82 percent, Siam Concrete advanced 0.97 percent, Thai Oil dropped 0.93 percent, TTB Bank skidded 1.08 percent and Charoen Pokphand Foods, True Corporation and PTT Oil & Retail were unchanged.

The lead from Wall Street is upbeat as the major averages opened higher on Tuesday and mostly stayed that way throughout the trading day.

The Dow soared 537.98 points or 1.24 percent to finish at 44,025.81, while the NASDAQ rallied 126.58 points or 0.64 percent to close at 19,756.78 and the S&P 500 gained 52.58 points or 0.88 percent to end at 6,049.24.

U.S. stocks were firmly in positive territory, with investors assessing the possible impact of the Trump administration's economic policies and likely tariff proposals.

Optimism about some interest rate cuts by the Federal Reserve this year, and a drop in treasury yields also contributed to market's upside.

The recent retreat by treasury yields came as the U.S. inflation data released over the past few days led to renewed optimism about the outlook for interest rates.

Oil prices tumbled on Tuesday, weighed down by Trump's plans to boost oil and gas production in the U.S. West Texas Intermediate Crude oil futures for February closed down $1.99 or 2.56 percent at $75.89 a barrel.