The Thai stock market on Tuesday halted the three-day slide in which it had fallen almost 45 points or 2.6 percent. The Stock Exchange of Thailand now rests just above the 1,670-point plateau and it may extend its gains on Wednesday.
The global forecast for the Asian markets is upbeat on bargain hunting following heavy selling pressure in recent sessions. The European markets were down but the U.S. bourses were up and the Asian markets are tipped to follow the latter lead.
The SET finished modestly higher on Tuesday following a mixed performance from the financial shares and weakness from the energy producers.
For the day, the index added 5.49 points or 0.33 percent to finish at 1,671.48 after trading between 1,647.49 and 1,673.38. Volume was 22.896 billion shares worth 70.439 billion baht. There were 856 decliners and 777 gainers, with 436 stocks finishing unchanged.
Among the actives, Advanced Info surged 4.37 percent, while Thailand Airport shed 0.36 percent, Banpu lost 0.72 percent, Bangkok Bank dipped 0.28 percent, Bangkok Medical climbed 1.21 percent, BTS Group added 0.82 percent, Charoen Pokphand Foods advanced 0.93 percent, Kasikornbank collected 0.58 percent, Krung Thai Bank fell 0.52 percent, TMB Bank and PTT both sank 0.55 percent, PTT Exploration and Production was down 0.38 percent, PTT Global Chemical tumbled 1.74 percent, Siam Commercial Bank lost 0.74 percent, Siam Concrete dropped 0.94 percent and Bangkok Expressway was unchanged.
The lead from Wall Street is firm as stocks showed a strong move to the upside on Tuesday, recovering from heavy selling over the past few days.
The Dow climbed 311.78 points or 1.21 percent to 26,029.52, while the NASDAQ jumped 107.23 points or 1.39 percent to 7,833.27 and the S&P 500 rose 37.03 points or 1.30 percent to 2,881.77.
The strength on Wall Street was partly due