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Thai stock market rises

Thai stock market

The Stock Exchange of Thailand finished higher at just above 1,345-point after gaining 1.9%

The Thai stock market has climbed higher in back-to-back sessions, gathering almost 25 points or 1.9 percent along the way. The Stock Exchange of Thailand (SET) now rests just above the 1,345-point plateau although it may run out of steam on Friday.

The global forecast for the Asian markets suggests mild consolidation on concerns over coronavirus stimulus and falling oil prices. The European markets were down and the U.S. bourses were mixed and the Asian markets also figure to open in the red.

The SET finished modestly higher on Thursday following strong gains from the financials and a mixed performance from the energy producers.

For the day, the index gained 9.85 points or 0.74 percent to finish at 1,346.69 after trading between 1,343.09 and 1,353.53. Volume was 24.235 billion shares worth 77.812 billion baht. There were 879 decliners and 704 gainers, with 279 stocks finishing unchanged.

Among the actives, Advanced Info added 0.26 percent, while Thailand Airport surged 5.63 percent, Asset World gained 0.51 percent, Bangkok Bank soared 5.29 percent, Bangkok Dusit Medical rose 0.47 percent, Bangkok Expressway spiked 2.23 percent, BTS Group accelerated 2.83 percent, Charoen Pokphand Foods climbed 1.53 percent, Kasikornbank skyrocketed 7.33 percent, Krung Thai Bank rallied 4.12 percent, PTT perked 2.00 percent, PTT Exploration and Production shed 0.52 percent, PTT Global Chemical jumped 2.54 percent, Siam Commercial Bank collected 6.36 percent, Siam Concrete skidded 1.07 percent and TMB Bank was up 8.42 percent.

Wall Street offers little clarity as stocks were lacklustre on Thursday, lingering near the unchanged line before ending mixed.

The Dow shed 80.12 points or 0.29 percent to finish at 27,896.72, while the NASDAQ added 30.26 points or 0.27 percent to end at 11,042.50 and the S&P 500 fell 6.92 points or 0.20 percent to close at 3,373.43.

The choppy trading on Wall Street came as traders kept an eye on developments in Washington, where Democrats and White House officials remain at an impasse over a coronavirus relief bill.

The ongoing stalemate over a new stimulus bill has raised concerns the economic recovery implied by recent data could stall.

In economic news, the Labor Department said first-time claims for U.S. unemployment benefits declined by more than expected last week.

Oil prices were down on Thursday after the International Energy Agency cut its forecast for global oil demand for 2020 to 91.9 million barrels per day. West Texas Intermediate crude futures dipped $0.28 or 0.66 percent at $42.27, after having jumped 2.6 percent on Wednesday.

Important:

This article is for information purposes only.

Please remember that financial investments may rise or fall and past performance does not guarantee future performance in respect of income or capital growth; you may not get back the amount you invested.

There is no obligation to purchase anything but, if you decide to do so, you are strongly advised to consult a professional adviser before making any investment decisions.

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