The Thai stock market has finished higher in four consecutive trading days, collecting more than 20 points or 1.1 percent along the way. The Stock Exchange of Thailand now rests beneath the 1,725-point plateau, and it's looking at another green light on Tuesday.
The global forecast for the Asian markets is positive on optimism over U.S. tax reform. The European and U.S. markets were firmly higher and the Asian bourses figure to follow suit.
The SET finished slightly higher on Monday following gains from the energy producers and the cement companies.
For the day, the index gained 6.02 points or 0.35 percent to finish at 1,723.71 after trading between 1,717.33 and 1,727.07. Volume was 7.734 billion shares worth 45.217 billion baht. There were 650 gainers and 589 decliners, with 434 stocks finishing unchanged.
Among the actives, Advanced Info added 0.81 percent, while Thailand Airport shed 0.39 percent, Banpu jumped 1.14 percent, Bangkok Bank lost 0.49 percent, Bangkok Medical dropped 0.94 percent, Bangkok Expressway tumbled 1.94 percent, Charoen Pokphand Foods fell 0.41 percent, PTT gained 0.93 percent, PTT Exploration and Production surged 3.17 percent, PTT Global Chemical advanced 0.60 percent, Siam Concrete picked up 0.42 percent and Siam Commercial Bank, Kasikornbank and Krung Thai Bank were unchanged.
The lead from Wall Street is firm as stocks opened higher on Monday and stayed that way throughout the trading session, allowing the major averages to hit fresh record closing highs.
The Dow climbed 140.46 points or 0.57 percent to 24,792.20, while the NASDAQ gained 58.18 points or 0.84 percent to 6,994.76 and the S&P 500 added 14.35 points or 0.54 percent to 2,690.16.
The initial strength on Wall Street partly reflected optimism about the outlook for Republican tax reform, which would cut corporate and individual tax rates. The House is scheduled to vote on the bill later today, with a vote in the Senate expected to follow soon thereafter.
In economic news, the National Association of Home Builders noted an unexpected improvement in homebuilder confidence in December.
Energy stocks saw considerable strength despite a decline in the price of crude oil as the U.S. dollar strengthened. Crude oil for January delivery edged down $0.14 to $57.16 a barrel.
by RTT Staff Writer
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