Thai Stock Market May Tick Higher Again On Tuesday

RTTNews | 1 jam 38 menit yang lalu

(RTTNews) - The Thai stock market has tracked higher in three straight sessions, gathering more than 15 points or 1.0 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 Tuesday.

The global forecast for the Asian market is cautiously optimistic thanks to easing crude oil prices and hopes for an end to the conflict in the Middle East. The European markets were mixed and the U.S. bourses were up and the Asian markets figure to split the difference.

The SET finished modestly higher again on Monday following gains from the food, resource and technology sectors.

For the day, the index rose 4.83 points or 0.31 percent to finish at 1,576.45 after trading between 1,568.61 and 1,582.90. Volume was 8.838 billion shares worth 55.047 billion baht. There were 235 decliners and 183 gainers, with 232 stocks finishing unchanged.

The lead from Wall Street is positive as the major averages opened mixed on Monday but generally trended higher throughout the trading day, ending near session highs.

The Dow added 90.94 points or 0.18 percent to finish at 51,267.90, while the NASDAQ jumped 286.45 points or 1.05 percent to end at a record 27,477.31 and the S&P 500 gained 51.23 points or 0.66 percent to close at 7,773.95.

The strength on Wall Street may partly have reflected easing concerns about the outlook for interest rates following last week's inflation and employment data.

On Wednesday, the Fed is scheduled to release the minutes of its latest monetary policy meeting, which may shed additional light on the outlook for rates.

In U.S. economic news, a report released by the Institute for Supply Management showed a modest slowdown in the pace of growth in U.S. service sector activity in September.

Crude oil prices moved sharply lower on Monday amid indications that exports from the Middle East are returning to pre-war levels despite the ongoing conflict between the U.S. and Iran. West Texas Intermediate for November delivery sank $1.21 or 1.3 percent to $89.90 a barrel.

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