The Thai stock market had moved higher in two straight sessions, collecting almost 10 points or 0.7 percent along the way. The Stock Exchange of Thailand now sits just above the 1,500-point plateau and it's expected to extend its winning streak on Tuesday.
The global forecast for the Asian is upbeat on falling treasury yields and vaccine optimism. The European and U.S. markets were firmly higher and the Asian bourses are tipped to follow suit.
The SET finished slightly higher on Monday following mixed performances from the financial shares and energy producers.
For the day, the index rose 4.14 points or 0.28 percent to finish at 1,500.92 after trading between 1,487.99 and 1,505.61. Volume was 25.416 billion shares worth 84.565 billion baht. There were 977 decliners and 629 gainers, with 366 stocks finishing unchanged.
Among the actives, Advanced Info climbed 1.21 percent, while Thailand Airport advanced 1.17 percent, Bangkok Asset Management dropped 0.92 percent, Bangkok Bank collected 0.41 percent, Bangkok Dusit Medical rallied 2.00 percent, BTS Group skidded 1.06 percent, Charoen Pokphand Foods gained 0.87 percent, Kasikornbank jumped 1.77 percent, Krung Thai Bank sank 0.83 percent, PTT Exploration and Production tumbled 2.17 percent, PTT Global Chemical perked 0.80 percent, SCG Packaging added 0.53 percent, Siam Commercial Bank soared 2.91 percent, Siam Concrete improved 0.82 percent and TMB Bank, PTT, Gulf, Asset World and Bangkok Expressway were unchanged.
The lead from Wall Street is broadly positive as stocks opened firmly in the green on Monday and continued to accelerate as the day progressed.
The Dow spiked 603.14 points or 1.95 percent to finish at 31,535.51, while the NASDAQ surged 396.48 points or 3.01 percent to end at 13,588.83 and the S&P 500 jumped 90.67 points or 2.38 percent to close at 3,901.82.
The rally on Wall Street came amid a continued pullback by treasury yields, which has eased recent concerns about the outlook for interest rates. The yield on the benchmark ten-year note hit its highest closing level in a year last week.
Positive sentiment was also generated by news Johnson & Johnson's (JNJ) single-shot Covid-19 vaccine received emergency use authorization from the FDA, paving the way for its distribution.
In U.S. economic news, the Institute for Supply Management said U.S. manufacturing activity accelerated in February. Also, the Commerce Department said U.S. construction spending increased more than expected in January.
Crude oil prices drifted lower Monday, weighed down by a likely move by major oil producers to increase crude output from April. West Texas Intermediate Crude oil futures for April ended down $0.86 or 1.4 percent at $60.64 a barrel.
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