Win Streak May Continue For Thai Stock Market – Markets Insider

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(RTTNews) – The Thai stock market has finished higher in back-to-back sessions, advancing more than 20 points or 1.2 percent along the way. The Stock Exchange of Thailand now rests just beneath the 1,690-point plateau and it may add to its winnings on Tuesday.

The global forecast for the Asian markets is upbeat thanks to solid economic data, although a decline in crude oil prices may cap the upside. The European and U.S. markets were up and the Asian markets are expected to follow that lead.

The SET finished modestly higher on Monday following gains from the financial shares and the energy producers.

For the day, the index jumped 15.48 points or 0.93 percent to finish at 1,688.64 after trading between 1,676.97 and 1,691.13. Volume was 12.824 billion shares worth 62.026 billion baht. There were 734 gainers and 582 decliners, with 378 stocks finishing unchanged.

Among the actives, Thailand Airport climbed 0.85 percent, while Bangkok Bank jumped 1.34 percent, Bangkok Medical added 0.49 percent, Charoen Pokphand Food advanced 0.93 percent, Kasikornbank collected 0.48 percent, Krung Thai Bank perked 1.06 percent, PTT surged 2.45 percent, PTT Exploration and Production spiked 1.40 percent, PTT Global Chemical soared 2.92 percent, Siam Commercial Bank was up 1.31 percent and Siam Concrete, Bangkok Expressway, Advanced Info and Banpu were unchanged.

The lead from Wall Street is positive as stocks moved higher on Monday, adding to recent gains and setting fresh record closing highs.

The Dow added 152.51 points or 0.68 percent to 22,557.60, while the NASDAQ rose 20.76 points or 0.32 percent to 6,516.72 and the S&P climbed 9.76 points or 0.39 percent to 2,529.12.

In economic news, the Institute for Supply Management saw an unexpected acceleration in growth in manufacturing activity in September. Also, the Commerce Department said construction spending in the U.S. increased by more than expected in August.

Crude oil futures tumbled Monday as the U.S. dollar continued to strengthen. Also, a report said OPEC compliance with its supply quota plan has dropped to 86 percent. WTI light sweet crude oil was down $1.24 to $50.43 a barrel.

Closer to home, Thailand will release September numbers for consumer and producer prices later today. In August, inflation was up 0.11 percent on month and 0.30 percent on year, while core CPI added 0.05 percent on month and 0.50 percent on year. Producer prices gained 0.3 percent on month and fell 0.6 percent on year.

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