Thai Stock Market Tipped To Open To The Upside

(RTTNews) - The Thai stock market on Tuesday ended the two-day winning streak in which it had collected almost 10 points or 0.8 percent. The Stock Exchange of Thailand now sits just beneath the 1,185-point plateau although it may tick higher again on Wednesday.

The global forecast for the Asian markets suggests mild upside, supported by oil companies and technology stocks. The European and U.S. markets finished higher and the Asian bourses are expected to open in similar fashion.

The SET finished modestly lower on Tuesday following losses from the food, consumer, finance, industrial, property and service sectors, while the industrials and technology stocks offered support.

For the day, the index slipped 5.13 points or 0.43 percent to finish at 1,184.93 after trading between 1,181.13 and 1,191.01. Volume was 6.859 billion shares worth 30.792 billion baht. There were 322 decliners and 157 gainers, with 182 stocks finishing unchanged.

Among the actives, Advanced Info rose 0.36 percent, while Thailand Airport shed 1.84 percent, Asset World stumbled 3.62 percent, Banpu retreated 2.26 percent, Bangkok Bank fell 0.33 percent, Bangkok Dusit Medical slumped 1.31 percent, Bangkok Expressway lost 2.70 percent, B. Grimm dropped 0.92 percent, BTS Group sank 2.75 percent, CP All Public declined 2.44 percent, Charoen Pokphand Foods added 0.42 percent, Energy Absolute tumbled 3.39 percent, Kasikornbank slid 0.31 percent, PTT Oil & Retail surrendered 1.87 percent, PTT improved 0.78 percent, PTT Exploration and Production jumped 2.16 percent, PTT Global Chemical tanked 2.67 percent, SCG Packaging plummeted 7.95 percent, Siam Commercial Bank collected 0.40 percent, Siam Concrete plunged 4.88 percent, True Corporation rallied 2.61 percent and TTB Bank, Krung Thai Bank, Krung Thai Card, Gulf and Thai Oil were unchanged.

The lead from Wall Street is cautiously optimistic as the major averages hugged both sides of the line on Tuesday before a late push bumped them into the green at the close.

The Dow added 4.18 points or 0.01 percent to finish at 42,587.50, while the NASDAQ climbed 83.26 points or 0.46 percent to close at 18,271.86 and the S&P 500 rose 9.08 points or 0.16 percent to end at 5,776.65.

The choppy trading on Wall Street came amid ongoing uncertainty about President Donald Trump's tariff plans following recent reports he plans to take a more narrow approach to new tariffs.

Trump has recently made many conflicting remarks about his tariff plans, leading to considerable uncertainty on Wall Street.

Meanwhile, traders largely shrugged off a report from the Conference Board showing consumer confidence in the U.S. deteriorated by more than expected in the month of March.

Oil prices dipped on Tuesday on reports Russia and Ukraine have agreed to a partial ceasefire covering the Black Sea. West Texas Intermediate Crude oil futures for May closed lower by $0.11 at $69.00 a barrel.

Closer to home, Thailand is scheduled to release February figures for imports, exports and trade balance later today. In January, imports were up 7.9 percent and exports rose 13.6 percent for a trade deficit of $1.880 billion.