The Thai stock market on Wednesday snapped the four-day winning streak in which it had advanced more than 20 points or 1.2 percent. The Stock Exchange of Thailand now rests just beneath the 1,650-point plateau although it figures to bounce higher again on Thursday.
The global forecast for the Asian markets is upbeat on optimism over U.S.-China trade talks. The European and U.S. markets were firmly higher and the Asian bourses are tipped to open in similar fashion.
The SET finished slightly lower on Wednesday as support from the energy producers offset losses from the broader market.
For the day, the index dipped 2.42 points or 0.15 percent to finish at 1,649.06 after trading between 1,646.01 and 1,654.02. Volume was 14.50 billion shares worth 44.246 billion baht. There were 758 decliners and 441gainers, with 515 stocks finishing unchanged.
Among the actives, Banpu added 0.61 percent, while Bangkok Bank shed 0.48 percent, Bangkok Expressway skidded 1.50 percent, BTS Group plummeted 4.42 percent, Kasikornbank collected 0.26 percent, PTT perked 0.52 percent, PTT Exploration and Production climbed 1.18 percent, PTT Global Chemical jumped 1.84 percent, Siam Concrete plunged 2.46 percent and TMB Bank, Siam Commercial Bank, Krung Thai Bank, Charoen Pokphand Foods, Advanced Info, Thailand Airport and Bangkok Medical all were unchanged.
The lead from Wall Street is positive as stocks opened higher Wednesday, faded a bit in the afternoon but still ended firmly in the green.
The Dow added 39.00 points or 0.15 percent to 26,218.13, while the NASDAQ gained 46.86 points or 0.60 percent to 7,895.55 and the S&P 500 rose 6.16 points or 0.21 percent to 2,873.40.
The higher close on Wall Street came on optimism about the latest round of trade talks between U.S. and Chinese trade representatives. Reports suggest that most of the issues standing in the way