Higher Open Called For Thai Stock Market

(RTTNews) - The Thai stock market has tracked higher in four straight sessions, gathering more than 20 points or 1.4 percent in that span. The Stock Exchange of Thailand now sits just above the 1,575-point plateau and it may see additional support again on Wednesday.

The global forecast for the Asian markets is upbeat thanks to softening oil prices and treasury yields. The European and U.S. markets were up and the Asian bourses are expected to open in similar fashion.

The SET finished modestly higher on Tuesday as gains from the industrial and technology sectors were capped by weakness from the financial and service companies.

For the day, the index rose 5.77 points or 0.37 percent to finish at 1,582.22 after trading between 1,575.25 and 1,587.54. Volume was 9.489 billion shares worth 67.389 billion baht. There were 255 decliners and 175 gainers, with 217 stocks finishing unchanged.

The lead from Wall Street is firm as the major averages opened modestly higher on Tuesday and stayed that way throughout the trading day.

The Dow climbed 253.38 points or 0.49 percent to finish at 51,521.28, while the NASDAQ added 122.48 points or 0.45 percent to close at a record 27,599.79 and the S&P 500 gained 44.98 points or 0.58 percent to end at 7,818.93, also a record.

The early strength on Wall Street came amid a pullback by treasury yields, which retreated after recently surging to multi-decade highs.

Traders were also looking ahead to the release of the minutes of the Federal Reserve's latest monetary policy meeting later. The minutes may shed additional light on Fed officials' thinking ahead of the central bank's next interest rate decision later this month.

In U.S. economic news, a report released by the Commerce Department showed the U.S. trade deficit widened by more than expected in the month of August.

Crude oil prices came off of early lows but still ticked lower on Tuesday following reports that Middle East crude exports are recovering back up toward pre-war levels. West Texas Intermediate crude for November delivery dipped $0.18 or 0.2 percent at $89.25 a barrel.