Higher Open Anticipated For Thai Stock Market

(RTTNews) - The Thai stock market has ticked lower in three straight sessions, slipping more than 15 points or 1.3 percent along the way. The Stock Exchange of Thailand now rests just above the 1,320-point plateau although it's looking at a steady start on Tuesday.

The global forecast for the Asian markets is positive on decent economic data, although weakness among the oil stocks may limit the upside. The European and U.S. markets were up and the Asian bourses are expected to follow suit.

The SET finished modestly lower again on Monday following losses from the food, consumer, finance, industrial, property and technology sectors.

For the day, the index fell 4.20 points or 0.32 percent to finish at 1,321.42 after trading between 1,308.04 and 1,324.45. Volume was 6.926 billion shares worth 43.545 billion baht. There were 306 decliners and 143 gainers, with 210 stocks finishing unchanged.

Among the actives, Advanced Info rallied 2.87 percent, while Thailand Airport expanded 1.49 percent, Asset World gained 0.92 percent, Bangkok Bank slumped 0.95 percent, Bangkok Dusit Medical and SCG Packaging both skidded 1.00 percent, Bangkok Expressway stumbled 1.90 percent, Charoen Pokphand Foods and Siam Concrete both dropped 0.97 percent, Gulf vaulted 1.60 percent, Kasikornbank fell 0.27 percent, Krung Thai Card sank 0.87 percent, PTT Oil & Retail retreated 1.47 percent, PTT improved 0.74 percent, PTT Exploration and Production rose 0.41 percent, PTT Global Chemical shed 0.40 percent, Siam Commercial Bank slipped 0.37 percent, Thai Oil lost 0.58 percent, True Corporation advanced 0.86 percent, TTB Bank tumbled 1.98 percent and Krung Thai Bank, Banpu, B. Grimm, Energy Absolute, CP All Public and BTS Group were unchanged.

The lead from Wall Street is upbeat as the major averages opened flat but quickly tracked to the upside and spent the balance of the day in the green.

The Dow jumped 515.19 points or 1.05 percent to finish at 49,407.66, while the NASDAQ added 130.29 points or 0.56 percent to end at 23,592.11 and the S&P 500 gained 37.41 points or 0.54 percent to close at 6,976.44.

The strength on Wall Street followed the release of a report from the Institute for Supply Management showing manufacturing activity in the U.S. unexpectedly expanded for the first time in 12 months in January.

The markets saw continued strength after President Donald Trump announced that he has reached a trade deal with India.

But traders seemed somewhat reluctant to make more significant moves ahead of the release of the Labor Department's closely watched monthly jobs report on Friday.

Crude oil prices tumbled on Monday as signs of de-escalation of the U.S.-Iran conflict reduced supply-output concerns in the Middle East, taking off the geopolitical risk premium. West Texas Intermediate crude for March delivery was down $3.28 or 5.03 percent at $61.93 per barrel.