Thai Stock Market May Extend Winning Streak

(RTTNews) - The Thai stock market has moved higher in six straight sessions, collecting more than 80 points or 6.5 percent along the way. The Stock Exchange of Thailand now rests just above the 1,315-point plateau and it's got another positive lead for Thursday's trade.

The global forecast for the Asian markets is cautiously optimistic and fairly fluid in light of U.S. demands to acquire Greenland. The European markets were mixed and the U.S. bourses were up and the Asian markets figure to follow that lead.

The SET finished sharply higher again on Wednesday following gains from the food, industrial, property, resource, service and technology sectors.

For the day, the index jumped 21.19 points or 1.63 percent to finish at 1,317.56 after trading between 1,299.64 and 1,320.09. Volume was 8.852 billion shares worth 68.148 billion baht. There were 282 gainers and 144 decliners, with 230 stocks finishing unchanged.

Among the actives, Advanced Info jumped 2.05 percent, while Asset World spiked 2.91 percent, Banpu rallied 2.73 percent, Bangkok Bank plummeted 5.87 percent, Bangkok Dusit Medical strengthened 1.49 percent, B. Grimm tumbled 1.44 percent, BTS Group expanded 2.56 percent, CP All Public gained 0.56 percent, Gulf vaulted 1.64 percent, Kasikornbank retreated 1.56 percent, Krung Thai Bank cratered 4.31 percent, Krung Thai Card collected 0.90 percent, PTT Oil & Retail skyrocketed 7.59 percent, PTT sank 0.74 percent, PTT Exploration and Production increased 0.85 percent, PTT Global Chemical soared 5.81 percent, SCG Packaging added 0.48 percent, Siam Commercial Bank declined 1.43 percent, Thai Oil surged 6.33 percent, True Corporation improved 0.81 percent, TTB Bank dropped 0.98 percent and Charoen Pokphand Foods, Siam Concrete, Energy Absolute, Thailand Airport and Bangkok Expressway were unchanged.

The lead from Wall Street is positive as the major averages opened higher on Wednesday and stayed in the green throughout the session, although not without volatility.

The Dow jumped 588.64 points or 1.21 percent to finish at 49,077.23, while the NASDAQ rallied 270.50 points or 1.18 percent to end at 23,224.82 and the S&P 500 climbed 87.76 points or 1.16 percent to close at 6,875.62.

The volatility on Wall Street came as traders reacted to President Donald Trump's latest remarks about his efforts to take control of Greenland.

Early buying interest was generated in reaction to Trump's speech at the World Economic Forum in Davos, Switzerland, where he ruled out the use of military force to take control of Greenland.

However, buying interest waned over the course of the morning amid lingering concerns about trade between the U.S. and Europe due to the dispute. But buying interest returned when Trump said he would not go forward with the tariffs he threatened to impose on several European nations

Crude oil posted incremental gains on Wednesday as traders assessed Trump's speech at the World Economic Forum, where he sought negotiations on the U.S. bid to acquire Greenland. West Texas Intermediate crude for March delivery was up $0.10 or 0.17 percent at $60.46 per barrel.