Thai Stock Market Likely To Extend Its Gains

The Thai stock market bounced higher again on Friday, one session after it had ended the two-day winning streak in which it had gathered almost 20 points or 1.2 percent. The Stock Exchange of Thailand now rests just above the 1,575-point plateau and it may add to its winnings on Monday.

The global forecast for the Asian markets is upbeat following solid U.S. employment data and an encouraging outlook for interest rates. The European and U.S. markets were sharply higher on Friday and the Asian bourses are expected to open in similar fashion.

The SET finished modestly higher on Friday as gains from the energy producers were capped by weakness from the financial sector.

For the day, the index climbed 15.10 points or 0.97 percent to finish at the daily high of 1,575.13 after moving as low as 1,550.22. Volume was 13.893 billion shares worth 51.419 billion baht. There were 660 gainers and 604 decliners, with 410 stocks finishing unchanged.

Among the actives, Advanced Indo jumped 2.61 percent, while Thailand Airport climbed 1.57 percent, Banpu surged 6.80 percent, Bangkok Bank skidded 0.98 percent, Bangkok Medical advanced 1,63 percent, Bangkok Expressway tumbled 1.58 percent, PTT spiked 2.75 percent, PTT Exploration and Production soared 4.41 percent, PTT Global Chemical perked 1.45 percent, Siam Commercial Bank retreated 1.48 percent, Siam Concrete added 0.46 percent and Krung Thai Bank, Charoen Pokphand Foods and Kasikornbank were unchanged.

The lead from Wall Street is broadly positive as stocks surged to the upside on Friday, more than offsetting the sharp pullback a day earlier.

The Dow surged 746.94 points or 3.29 percent to 23,433.16, while the NASDAQ soared 275.35 points or 4.26 percent to 6,738.86 and the S&P jumped 84.05 points or 3.43 percent to 2,531.94. For the week, the Dow added 1.6 percent, the NASDAQ gained

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