(RTTNews) – The Thai stock market has moved higher in five straight sessions, adding more than 35 points or 2.9 percent along the way. The Stock Exchange of Thailand now sits just beneath the 1,290-point plateau and it’s expected to extend its gains on Friday.
The global forecast for the Asian markets is upbeat on an improved outlook for interest rates. The European and U.S. markets were up and the Asian bourses are expected to follow that lead.
The SET finished modestly higher on Thursday following gains from the food, property, resource and technology sectors.
For the day, the index collected 9.98 points or 0.78 percent to finish at 1,288.03 after trading between 1,279.48 and 1,291.64. Volume was 9.940 billion shares worth 46.753 billion baht. There were 254 gainers and 187 decliners, with 211 stocks finishing unchanged.
Among the actives, Advanced Info climbed 1.03 percent, while Thailand Airport declined 0.66 percent, Asset World sank 0.85 percent, Banpu strengthened 1.24 percent, Bangkok Bank shed 0.67 percent, Bangkok Dusit Medical slumped 0.95 percent, B. Grimm improved 0.70 percent, Charoen Pokphand Foods jumped 1.73 percent, Energy Absolute declined 0.68 percent, Gulf stumbled 1.60 percent, Kasikornbank lost 0.59 percent, Krung Thai Bank spiked 1.94 percent, Krung Thai Card dropped 0.87 percent, PTT soared 3.10 percent, PTT Exploration and Production increased 1.35 percent, PTT Global Chemical tumbled 1.77 percent, Siam Commercial Bank fell 0.39 percent, Thai Oil rallied 2.94 percent, TTB Bank collected 0.53 percent and SCG Packaging, Siam Concrete, True Corporation, PTT Oil & Retail, CP All Public, Bangkok Expressway and BTS Group were unchanged.
The lead from Wall Street is positive as the major averages opened higher on Thursday and remained in the green throughout the trading day.
The Dow surged 617.08 points or 1.36 percent to finish at 46,108.00, while the NASDAQ rallied 157.01 points or 0.72 percent to end at 22,043.07 and the S&P 500 gained 55.43 points or 0.85 percent to close at 6,587.47.
The strength on Wall Street came amid a positive reaction to separate Labor Department reports on consumer price inflation and weekly jobless claims, further boosting the chances of a rate cut.
A closely watched Labor Department report showed U.S. consumer prices rose by slightly more than expected in August. Also, first-time claims for U.S. unemployment benefits unexpectedly increased last week.
Following the reports, CME Group’s FedWatch Tool is currently indicating 94.8 percent chance the Federal Reserve will lower rates by a quarter-point next week and a slim 5.2 percent chance of a half- point rate cut.
Crude oil prices fell sharply on Thursday, triggered by the International Energy Agency’s monthly report that boosted the supply estimate for 2025 and 2026, indicating a glut. West Texas Intermediate crude for October delivery sank $1.22 or 1.92 percent at $62.45 per barrel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
#Higher #Open #Called #Thai #Stock #Market