The Thai stock market bounced higher again on Thursday, one session after it had ended the two-day winning streak in which it had advanced almost 15 points or 0.9 percent. The Stock Exchange of Thailand now rests just above the 1,800-point plateau and it's called higher again on Friday.
The global forecast for the Asian markets is firm, thanks mainly to a spike in crude oil prices. The European and U.S. markets were firmly higher and the Asian markets are expected to follow that lead.
The SET finished modestly higher on Thursday following gains from the financial shares and energy producers.
For the day, the index added 8.77 points or 0.49 percent to finish at 1,800.86 after trading between 1,790.80 and 1,801.95. Volume was 8.694 billion shares worth 44.644 billion baht. There were 670 decliners and 633 gainers, with 447 stocks finishing unchanged.
Among the actives, Advanced Info added 0.51 percent, while Banpu surged 4.81 percent, Bangkok Medical jumped 1.81 percent, Bangkok Expressway climbed 1.35 percent, Charoen Pokphand Foods shed 0.43 percent, Kasikornbank advanced 1.79 percent, PTT perked 1.25 percent, PTT Exploration and Production soared 2.27 percent, PTT Global Chemical spiked 1.37 percent and Siam Commercial Bank, Siam Concrete, Krung Thai Bank, Thailand Airport and Bangkok Bank all were unchanged.
The lead from Wall Street is broadly positive as stocks shook off some early volatility to move significantly higher on Thursday as the major averages stretched their winning streak to five sessions.
The Dow jumped 306.88 points or 1.23 percent to 25,200.37, while the NASDAQ spiked 112.81 points or 1.58 percent to 7,256.43 and the S&P added 32.57 points or 1.21 percent to 2,731.20.
In economic news, the Labor Department said producer prices rose in line with estimates in January, and also that initial jobless claims increased in line with expectations in the week ended February 10.
Also, the National Association of Homebuilders said homebuilder confidence remained solid in February, while the Federal Reserve noted a modest decrease in industrial output in January.
Crude oil prices rallied for second day Thursday, rising back near January's four-year highs, helped by a weaker greenback. WTI light sweet oil was up 74 cents or 1.2 percent to end at $61.34 a barrel.
by RTT Staff Writer
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