Win Streak May Continue For Thai Stock Market

The Thai stock market has moved higher in consecutive trading days, gathering more than 20 points or 1.2 percent along the way. The Stock Exchange of Thailand now sits just beneath the 1,680-point plateau and it may continue its winning ways on Thursday.

The global forecast for the Asian markets is positive, primarily riding a surge in crude oil prices. The European and U.S. markets was modest gains and the Asian bourses figure to follow suit.

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

For the day, the index collected 11.38 points or 0.68 percent to finish at 1,678.50 after trading between 1,673.00 and 1,680.85. Volume was 30.671 billion shares worth 87.958 billion baht. There were 946 gainers and 679 decliners, with 567 stocks finishing unchanged.

Among the actives, Advanced Info dropped 0.89 percent, while Thailand Airport rose 0.41 percent, Asset World jumped 1.78 percent, Bangkok Bank collected 0.40 percent, Bangkok Expressway spiked 1.83 percent, CP All Public added 0.43 percent, Charoen Pokphand Foods tumbled 1.83 percent, Energy Absolute climbed 1.56 percent, Gulf skyrocketed 6.45 percent, IRPC climbed 1.48 percent, Kasikornbank increased 0.35 percent, Krung Thai Bank gained 0.72 percent, Krung Thai Card strengthened 1.23 percent, PTT Oil & Retail sank 0.95 percent, PTT perked 0.64 percent, PTT Global Chemical improved 1.24 percent, SCG Packaging fell 0.38 percent, Siam Commercial Bank gathered 0.40 percent, Siam Concrete was up 0.26 percent, TTB Bank rallied 0.69 percent and Banpu, Bangkok Dusit Medical, BTS Group, PTT Exploration and Production and True Corporation were unchanged.

The lead from Wall Street is upbeat as the major averages opened higher on Wednesday, faded soon after but rebounded enough to end in the green.

The Dow added 38.30 points or 0.11 percent to finish at 36,290.32, while the NASDAQ gained 34.94 points or 0.23 percent to close at 15,188.39 and the S&P 500 rose 13.28 points or 0.28 percent to end at 4,726.35.

The modest strength on Wall Street followed the Labor Department's highly anticipated report on consumer price inflation in December. While the report showed the annual rate of consumer price growth once again reached the highest level in almost 40 years, traders seemed relieved the acceleration was not even more significant.

Treasury yields moved to the downside following the release of the report, offsetting some of the interest rate concerns that dragged the markets lower to start the year.

Crude oil prices spiked again on Wednesday, extending gains from the previous session. Oil prices continued to benefit from optimism about the outlook for energy demand amid indications of tight near-term supply. West Texas Intermediate crude for February delivery jumped $1.42 or 1.7 percent to $82.64 a barrel.

Closer to home, Thailand will see December results for its consumer confidence index later today; in November, the index score was 44.9.

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