The Thai stock market on Wednesday snapped the two-day slide in which it had fallen more than a dozen points or 0.8 percent. The Stock Exchange of Thailand now rests just beneath the 1,660-point plateau and it’s got another green light for Thursday’s trade.
The global forecast for the Asian markets is broadly positive in upbeat political news and surging crude oil prices. The European and U.S. markets were firmly in the green and the Asian markets are tipped to open in similar fashion.
The SET finished sharply higher on Wednesday following gains from the food and energy stocks, while the financials weighed.
For the day, the index advanced 16.39 points or 1.00 percent to finish at 1,658.64 after trading between 1,647.29 and 1,664.56. Volume was 19.577 billion shares worth 64.849 billion baht. There were 811 gainers and 763 decliners, with 423 stocks finishing unchanged.
Among the actives, Advanced Info jumped 1.74 percent, while Thailand Airport soared 3.12 percent, Bangkok Bank skidded 1,19 percent, Bangkok Medical climbed 1.72 percent, Bangkok Expressway spiked 1.82 percent, BTS Group surged 4.44 percent, Charoen Pokphand Foods accelerated 4.46 percent, Kasikornbank shed 0.32 percent, PTT advanced 1.75 percent, PTT Exploration and Production lost 0.84 percent, PTT Global Chemical rose 1.46 percent, Siam Commercial Bank tumbled 2.10 percent, Siam Concrete was up 0.99 percent, TMB Bank gained 1.96 percent and Banpu and Krung Thai Bank were unchanged.
The lead from Wall Street is solid as stocks opened sharply higher on Wednesday and extending gains as the day progressed.
The Dow climbed 237.45 points or 0.91 percent to 26,355.47, while the NASDAQ spiked 102.72 points or 1.30 percent to 7,976.88 and the S&P 500 rose 31.51 points or 1.08 percent to 2,937.78.
The initial strength on Wall Street reflected a positive reaction to developments overseas – including