Higher Open Called For Thai Stock Market

RTTNews | 2 jam 54 menit yang lalu

(RTTNews) - The Thai stock market has tracked higher in three straight sessions, advancing more than 35 points or 2.5 percent along the way. The Stock Exchange of Thailand now sits just above the 1,500-point plateau and it's expected to open to the upside again on Thursday.

The global forecast for the Asian markets is positive, with technology and energy stocks expected to lead the way higher. The European and U.S. markets were up and the Asian bourses are expected to follow that lead.

The SET finished modestly higher on Wednesday following gains from the industrial, resource and technology sectors.

For the day, the index rose 5.80 points or 0.39 percent to finish at 1,502.11 after trading between 1,494.82 and 1,506.63. Volume was 10.057 billion shares worth 56.793 billion baht. There were 222 gainers and 200 decliners, with 221 stocks finishing unchanged.

The lead from Wall Street is firm as the major averages opened mixed on Wednesday but trended to the upside throughout the day, finishing firmly in the green.

The Dow gained 254.60 points or 0.49 percent to finish at 52,486.49, while the NASDAQ rallied 400.31 points or 1.60 percent to end at 25,466.19 and the S&P 500 jumped 98.45 points or 1.31 percent to close at 7,619.38.

Technology stocks have helped lead the markets back to upside amid a positive reaction to better-than-expected quarterly results from neocloud company CoreWeave (CRWV).

Semiconductor stocks showed a strong move to the upside, driving the Philadelphia Semiconductor Index up by 5.7 percent, while energy stocks also provided support.

Crude oil prices advanced on Wednesday after strong remarks by Iranian leaders against the U.S. diminished expectations of an early reopening of the Strait of Hormuz. West Texas Intermediate crude for December delivery was up $0.96 or 1.12 percent at $87.00 per barrel.

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