A winning streak could continue for the Thai stock market
(RTTNews) – The Thai stock market has risen in three consecutive sessions, accumulating more than 25 points or 1.7% along the way. The Stock Exchange of Thailand is now located just above the plateau of 1,630 points and could increase its earnings on Wednesday.
Global forecasts for Asian markets are optimistic, with strong support from crude oil prices. European markets were mixed and US stock markets were firmly up and Asian markets are also expected to open in the green.
The SET ended slightly higher on Thursday following gains from financial stocks and energy producers.
For the day, the index gained 11.56 points or 0.71% to end at 1,631.15 after trading between 1,623.00 and 1,637.65. The volume was 43.830 billion shares worth 140.532 billion baht. There were 1,120 drops and 639 winners, with 527 stocks ending unchanged.
Among assets, Thailand Airport grew 0.40%, while Bangkok Bank climbed 3.52%, Bangkok Expressway fell 1.65%, BTS Group gained 0.52%, Charoen Pokphand Foods fell 0.95%, Gulf improved 0.61%, Kasikornbank jumped 7.38%, Krung Thai Bank rebounded 2.68%, Krung Thai Card fell 1.65%, PTT rose 1.27%, PTT Exploration and Production rose 0.44%, PTT Global Chemical rose 0.83%, SCG Packaging rose 1.19%, Siam Commercial Bank rose 18, 72%, TTB Bank increased by 3.70% and Advanced Info, Bangkok Dusit Medical, PTT Oil & Retail and Siam Concrete remained unchanged.
The lead of Wall Street is generally positive as the main averages opened sharply higher Thursday and remained in the green throughout the session.
The Dow Jones jumped 506.50 points or 1.48% to close at 34,764.82, while the NASDAQ climbed 155.40 points or 1.04% to close at 15,052.24 and the S&P 500 jumped 53.34 points or 1.21% to close at 4,448.98.
Wall Street’s strength came amid easing concerns over Evergrande after the Chinese real estate developer struck a deal with mainland bondholders.
The massive injection of capital by the People’s Bank of China into the country’s banking system also allayed concerns about a possible Evergrande default.
In business news, the Department of Labor said the first claims for unemployment benefits in the United States had unexpectedly increased for the second week in a row of the week ended September 18.
Crude oil futures stabilized on Thursday amid prospects of increasing energy demand and tightening supply due to the slow recovery in production recovery in the Gulf from Mexico after the recent hurricanes. West Texas Intermediate crude oil futures for November ended $ 1.07 or 1.5% at $ 73.30 a barrel.
Closer to home, Thailand will release August figures for imports, exports and the trade balance later today. Imports are forecast to increase 40.35 percent year-on-year, from 45.95 percent in July. Exports are expected to grow 13.5% annually, up from 20.27% in the previous month. The trade surplus is set at $ 0.97 billion, down from $ 0.18 billion a month earlier.
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