Thai Stock Market Tipped To Bounce Higher On Tuesday

Ahead of Monday’s holiday for Makha Bucha Day, the Thai stock market had snapped the three-day winning streak in which it had added more than 40 points or 2.6 percent. The Stock Exchange of Thailand remains just above the 1,535-point plateau although it figures to see a modest rebound on Tuesday.

The global forecast for the Asian markets is cautiously optimistic on the belief the coronavirus will soon be eliminated. The European markets were down and the U.S. bourses were up and the Asian markets figure to follow the latter lead.

The SET finished barely lower on Friday as losses from the energy producers were offset by support from the financial sector.

For the day, the index eased 0.55 points or 0.04 percent to finish at 1,535.24 after trading between 1,527.34 and 1,539.36. Volume was 18.661 billion shares worth 60.509 billion baht. There were 866 decliners and 669 gainers, with 518 stocks finishing unchanged.

Among the actives, Advanced Info tumbled 2.21 percent, while Thailand Airport sank 2.05 percent, Asset World advanced 0.91 percent, Bangkok Bank climbed 1.02 percent, Bangkok Expressway increased 0.92 percent, BTS Group accelerated 2.34 percent, Charoen Pokphand Foods added 0.87 percent, Kasikornbank collected 0.35 percent, Krung Thai Bank gained 0.62 percent, PTT shed 0.57 percent, PTT Exploration and Production lost 0.80 percent, PTT Global Chemical dropped 0.93 percent, Siam Concrete fell 0.27 percent, TMB Bank soared 2.08 percent and Banpu, Bangkok Dusit Medical and Siam Commercial Bank were unchanged.

The lead from Wall Street is positive as stocks shook off early weakness on Monday and moved higher as the day progressed.

The Dow added 174.31 points or 0.60 percent to end at 29,276.82, while the NASDAQ rose 107.88 points or 1.13 percent to 9,628.39 and the S&P 500 gained 24.38 points or 0.73 percent to 3,352.09.

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