Thai Bourse Tipped To Open To The Upside

(RTTNews) - The Thai stock market has moved higher in two of tree trading days since the end of the two-day slide in which it had eased just over 3 points or 0.2 percent. The Stock Exchange of Thailand now sits just beneath the 1,470-point plateau and it may see additional support on Friday.

The global forecast is positive after the Federal Reserve cut its benchmark lending rate by 25 basis points. The European and U.S. markets were mostly higher and the Asian bourses are expected to follow that lead.

The SET finished slightly higher on Thursday as gains from the financial, industrial and technology stocks were offset by weakness from the property, consumer and service sectors.

For the day, the index rose 2.30 points or 0.16 percent to finish at 1,469.72 after trading between 1,468.56 and 1,478.77. Volume was 12.693 billion shares worth 55.622 billion baht. There were 310 decliners and 185 gainers, with 173 stocks finishing unchanged.

Among the actives, Advanced Info soared 4.01 percent, while Thailand Airport shed 0.40 percent, Banpu spiked 2.59 percent, Bangkok Bank and Kasikornbank both climbed 1.02 percent, Bangkok Dusit Medical retreated 1.83 percent, Bangkok Expressway lost 0.65 percent, B. Grimm tumbled 1.86 percent, BTS Group accelerated 2.51 percent, Bumrungrad Hospital crashed 8.78 percent, Charoen Pokphand Foods advanced 0.83 percent, Energy Absolute sank 0.71 percent, Gulf strengthened 1.55 percent, Krung Thai Bank collected 0.97 percent, Krung Thai Card skidded 1.07 percent, PTT Exploration and Production fell 0.39 percent, PTT Global Chemical surged 5.71 percent, SCG Packaging plummeted 6.00 percent, Siam Commercial Bank rallied 1.32 percent, Thai Oil stumbled 1.73 percent, True Corporation improved 0.82 percent, TTB Bank added 0.56 percent and Siam Concrete, Asset World, PTT Oil & Retail, PTT and CP All Public were unchanged.

The lead from Wall Street is upbeat as the major averages opened mixed on Thursday and ended mostly to the upside, with the NASDAQ and S&P both hitting fresh record closing highs..

The Dow eased 0.59 points or 0.00 percent to finish at 43,729.34, while the NASDAQ surged 285.99 points or 1.51 percent to close at 19,269.46 and the S&P 500 advanced 44.06 points or 0.74 percent to end at 5,973.10.

The continued strength on Wall Street reflected ongoing optimism about the impact of former President Donald Trump's return to the White House, which is expected to be positive for corporations.

Stocks saw continued strength as the Federal Reserve announced its widely expected decision to lower interest rates by a quarter point.

Oil futures settled notably higher on Thursday as traders weighed the potential impact of Donald Trump's presidency on the geopolitical scene, against the interest rate cut announcement by the Federal Reserve. West Texas Intermediate Crude oil futures for December closed up $0.67 or 0.93 percent at $72.36 a barrel.