Higher Open Called For Thai Stock Market

(RTTNews) - The Thai stock market has finished lower in five straight sessions, slumping more than 40 points or 2.7 percent along the way. The Stock Exchange of Thailand now rests just beneath the 1,560-point plateau although it may find support on Tuesday. The global forecast for the Asian markets is flat to lower amid a lack of catalysts as investors take a wait-and-see attitude. The European markets finished slightly lower and the U.S. bourses were mixed and little changed and the Asian markets also figure to tick lower.

The SET finished barely lower on Monday following losses from the financials and services, while the resource stocks were mixed.

For the day, the index eased 0.49 points or 0.03 percent to finish at 1,557.87 after trading between 1,553.15 and 1,561.55. Volume was 12.120 billion shares worth 35.494 billion baht. There were 882 decliners and 430 gainers, with 498 stocks finishing unchanged. Among the actives, Advanced Info declined 0.48 percent, while Thailand Airport increased 0.69 percent, Asset World advanced 0.93 percent, Banpu lost 0.53 percent, Bangkok Bank dropped 0.94 percent, CP All Public gathered 0.40 percent, Energy Absolute improved 0.35 percent, Gulf slid 0.49 percent, Kasikornbank sank 0.78 percent, Krung Thai Bank skidded 1.10 percent, Krung Thai Card tumbled 1.84 percent, PTT Oil & Retail was down 0.46 percent, PTT perked 0.81 percent, PTT Exploration and Production gained 0.97 percent, PTT Global Chemical shed 0.60 percent, SCG Packaging added 0.59 percent, Siam Commercial Bank fell 0.49 percent, Siam Concrete rose 0.33 percent, True Corporation retreated 1.85 percent, TTB Bank tanked 2.01 percent and Charoen Pokphand Foods, B. Grimm, Thai Oil, Bangkok Dusit Medical, Bangkok Expressway and BTS Group were unchanged. The lead from Wall Street offers little clarity as the major averages spent most of Monday hugging the line before finally ending mixed and little changed.

The Dow rose 66.44 points or 0.20 percent to finish at 33,875.40, while the NASDAQ dipped 35.25 points or 0.29 percent to close at 12,037.20 and the S&P 500 rose 3.52 points or 0.09 percent to end at 4,137.04.

The choppy trading on Wall Street came as traders remained reluctant to make significant moves ahead of the release of earnings news from several big-name companies in the coming days.

Tech giants Alphabet (GOOGL), Amazon (AMZN), Intel (INTC), Meta Platforms (META) and Microsoft (MSFT) are among a slew of well-known companies due to report their quarterly results this week.

Reports on consumer confidence, new home sales, durable goods orders, first quarter GDP and personal income and spending are likely to attract attention in the coming days.

Crude oil futures settled higher on Monday following reports that OPEC is planning additional supply cuts. West Texas Intermediate Crude oil futures for June ended higher by $0.89 or 1.1 percent at $78.76 a barrel.