The Thai stock market has finished higher in four straight sessions, climbing almost 55 points or 2.9 percent in that span. The Stock Exchange of Thailand now rests just above the 1,795-point plateau and it's called higher again on Monday.
The global forecast for the Asian markets is positive, despite weaker than expected jobs data from the U.S. and a drop in crude oil prices. The European and U.S. markets were higher on Friday and the Asian markets figure to at least open in similar fashion.
The SET finished slightly higher on Friday following mixed performances from the financial shares and the energy producers.
For the day, the index advanced 4.42 points or 0.25 percent to finish at 1,795.45 after trading between 1,878.34 and 1,803.93. Volume was 12.718 billion shares worth 87.480 billion baht. There were 664 decliners and 660 gainers, with 383 stocks finishing unchanged.
Among the actives, Advanced Info added 0.52 percent, while Thailand Airport spiked 2.13 percent, Banpu climbed 0.97 percent, Bangkok Bank collected 0.49 percent, Bangkok Medical shed 0.95 percent, Bangkok Expressway soared 2.60 percent, Kasikornbank and Charoen Pokphand Foods both lost 0.41 percent, Krung Thai Bank perked 1.02 percent, PTT dipped 0.85 percent, PTT Exploration and Production advanced 0.94 percent, PTT Global Chemical gathered 0.84 percent, Siam Commercial Bank skidded 1.00 percent and Siam Concrete tumbled 1.21 percent.
The lead from Wall Street is upbeat as stocks extended a recent upward move on Friday as the major averages closed higher for the fourth straight session and again hit record closing highs.
The Dow gained 220.74 points or 0.88 percent to 25,295.87, while the NASDAQ climbed 58.64 points or 0.83 percent to 7,136.56 and the S&P rose 19.16 points or 0.70 percent to 2,743.15. For the week, the Dow added 2.3 percent, the NASDAQ soared 3.4 percent and the S&P jumped 2.6 percent.
The continued strength came even though the Labor Department noted weaker than expected job growth in December. Traders largely shrugged off the report, as analysts suggested that recent data points to overall strength in the labor market.
In other economic news, the Institute for Supply Management reported an unexpected slowdown in service sector activity in November. The Commerce Department noted the widest trade deficit in nearly six years in November, and factory orders jumped more than expected during the month.
Oil prices fell on Friday, slipping from highs last seen in 2015 thanks to soaring U.S. production. West Texas Intermediate crude futures fell 57 cents to $61.44 a barrel.
by RTT Staff Writer
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