Thai Stock Market May Head South On Thursday

The Thai stock market bounced higher again on Wednesday, one session after it had ended the four-day winning streak in which it had gathered more than 30 points or 1.8 percent. The Stock Exchange of Thailand now rests just beneath the 1,660-point plateau although it’s expected to open lower on Thursday.

The global forecast for the Asian markets is negative on concerns over global trade. The European and U.S. markets were down and the Asian markets are tipped to follow that lead.

The SET finished modestly higher on Wednesday following gains from the cement stocks, weakness from the energy producers and a mixed picture from the financial sector.

For the day, the index added 5.62 points or 0.34 percent to finish at 1,658.71 after trading between 1,653.00 and 1,663.49. Volume was 11.172 billion shares worth 38.519 billion baht. There were 661 gainers and 612 decliners, with 503 stocks finishing unchanged.

Among the actives, Advanced Info added 0.28 percent, while Thailand Airport shed 0.71 percent, Banpu lost 0.59 percent, Bangkok Bank fell 0.47 percent, Bangkok Medical dropped 0.84 percent, Bangkok Expressway soared 3.92 percent, Kasikornbank climbed 1.00 percent, Krung Thai Bank collected 0.50 percent, PTT skidded 1.02 percent, PTT Exploration and Production slid 0.40 percent, Siam Commercial Bank spiked 1.89 percent, Siam Concrete jumped 1.29 percent and PTT Global Chemical and Charoen Pokphand Foods were unchanged.

The lead from Wall Street is slightly soft as stocks were lackluster on Wednesday, finally ending slightly in the red.

The Dow shed 21.22 points or 0.08 percent to 25,390.30, while the NASDAQ lost 26.80 points or 0.36 percent to 7,375.28 and the S&P 500 fell 6.09 points or 0.22 percent to 2,731.61.

Ambiguity about trade talks between the U.S. and China continued to hang over the markets as President Donald Trump’s State of the

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