logo
Plus   Neg
Share
Email

Thai Stock Market May Extend Winning Streak

The Thai stock market has climbed higher in five straight sessions, collecting more than 45 points or 2.9 percent along the way. The Stock Exchange of Thailand remains just beneath the 1,665-point plateau and it may add to its winnings again on Tuesday.

The global forecast for the Asian markets is firm on easing trade tensions between the United States and Mexico. The European and U.S. bourses were up and the Asian markets are tipped to follow that lead.

The SET finished modestly higher on Monday following gains from the financial shares and energy producers.

For the day, the index advanced 11.23 points or 0.68 percent to finish at 1,664.73 after trading between 1,661.37 and 1,667.69. Volume was 14.461 billion shares worth 47.579 billion baht. There were 901 gainers and 519 decliners, with 446 stocks finishing unchanged.

Among the actives, Advanced Info added 0.51 percent, while Banpu climbed 1.36 percent, Bangkok Bank collected 0.50 percent, Bangkok Expressway jumped 1.71 percent, BTS Group advanced 0.87 percent, Kasikornbank perked 0.52 percent, Krung Thai Bank accelerated 1.04 percent, PTT gained 0.53 percent, PTT Exploration and Production soared 2.40 percent, PTT Global Chemical surged 2.02 percent, Siam Commercial Bank rose 0.76 percent, TMB Bank spiked 2.08 percent and Siam Concrete, Charoen Pokphand Foods, Thailand Airport and Bangkok Medical were unchanged.

The lead from Wall Street is positive as stocks opened sharply higher Monday, faded a bit in the afternoon but still finished firmly in the green.

The Dow added 78.74 points or 0.30 percent to 26,062.68, while the NASDAQ gained 81.07 points or 1.05 percent to 7,823.17 and the S&P 500 rose 13.39 points or 0.47 percent to 2,886.73.

The morning rally came in reaction to news the U.S. and Mexico have reached an agreement to avert President Donald Trump's threatened tariffs on all Mexican imports.

Trump also said that existing tariffs on Chinese imports will force China to make a deal and threatened to impose more tariffs if Chinese President Xi Jinping does not attend a planned meeting at the G-20 summit later this month.

Crude oil futures ended lower Monday as concerns over near term energy demand outweighed prospects of a likely extension of production cuts by OPEC. West Texas Intermediate Crude oil futures for July ended down $0.73 or 1.4 percent at $53.26 a barrel.

For comments and feedback contact: editorial@rttnews.com

Follow RTT