The Thai stock market has moved higher in two straight sessions, collecting almost 35 points or 2.3 percent along the way. The Stock Exchange of Thailand now rests just above the 1,560-point plateau although it's due for profit taking on Tuesday.
The global forecast for the Asian suggests little movement ahead of key inflation data later this week. The European and U.S. markets finished mixed and mostly flat and the Asian markets are expected to open in similar fashion.
The SET finished sharply higher on Monday following gains from the financial shares, resource stocks, and services and technology companies.
For the day, the index spiked 28.95 points or 1.89 percent to finish at 1,562.25 after trading between 1,537.46 and 1,562.25. Volume was 11.796 billion shares worth 54.642 billion baht. There were 437 gainers and 118 decliners, with 92 stocks finishing unchanged.
Among the actives, Advanced Info soared 2.34 percent, while Thailand Airport rose 0.68 percent, Asset World surged 5.61 percent, Banpu retreated 1.66 percent, Bangkok Bank jumped 2.21 percent, Bangkok Dusit Medical gained 0.85 percent, Bangkok Expressway advanced 2.89 percent, B. Grimm gained 3.21 percent, CP All Public increased 1.17 percent, Energy Absolute and Gulf both rallied 3.40 percent, Kasikornbank accelerated 1.97 percent, Krung Thai Bank strengthened 1.64 percent, Krung Thai Card climbed 1.89 percent, PTT Oil & Retail advanced 0.90 percent, PTT perked 1.64 percent, PTT Exploration and Production gathered 2.41 percent, PTT Global Chemical rallied 2.42 percent, SCG Packaging spiked 2.23 percent, Siam Commercial Bank improved 1.93 percent, Siam Concrete soared 3.08 percent, Thai Oil jumped 2.70 percent, True Corporation surged 3.75 percent, TTB Bank collected 1.35 percent and Charoen Pokphand Foods was unchanged.
The lead from Wall Street offers little guidance as the major averages opened flat on Monday and spent much of the day in negative territory before finishing mixed and little changed.
The Dow shed 55.69 points or 0.17 percent to finish at 33,618.69, while the NASDAQ added 21.50 points or 0.18 percent to close at 12,256.92 and the S&P 500 perked 1.87 points or 0.05 percent to end at 4,138.12.
The choppy trading on Wall Street came as traders seemed reluctant to make significant moves ahead to the release of key inflation data later in the week.
The reports on consumer and producer price inflation, which are due to be released on Wednesday and Thursday, respectively, could have a significant impact on the outlook for interest rates.
In U.S. economic news, the Commerce Department released a report showing U.S. wholesale inventories were unexpectedly unchanged in March versus expectations for a slight increase.
Crude oil prices climbed higher on Monday amid optimism about the outlook for energy demand thanks to last week's fairly encouraging non-farm payrolls data. West Texas Intermediate crude oil futures for June ended higher by $1.82 or 2.6 percent at $73.16 a barrel.
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