Thai stock market set to increase earnings
(RTTNews) – The Thai stock market rebounded higher on Friday again, a session after ending a three-day winning streak in which it had gained nearly 15 points or 0.9%. The Stock Exchange of Thailand is now located just above the plateau of 1,635 points and it is again called up on Monday.
Global forecasts for Asian markets are optimistic, with support from oil and tech stocks in particular. The European and US markets were up and Asian stock exchanges are expected to open similarly.
The SET ended slightly higher on Friday following gains from financial stocks and energy producers.
For the day, the index rose 11.29 points or 0.69% to end at 1,636.56 after trading between 1,628.14 and 1,636.92. The volume was 36.275 billion shares worth 106.114 billion baht. There were 836 drops and 757 winners, with 516 shares ending unchanged.
Among assets, Advanced Info and Bangkok Expressway both added 0.58%, Thailand airport soared 5.38%, Asset World jumped 1.98%, Bangkok Bank collected 0.83%, BTS Group gained 0.51%, Charoen Pokphand Foods fell 0.92%, Gulf sank 0.72%, Kasikornbank climbed 1.18%, Krung Thai Bank rose 0.89%, PTT Oil & Retail grew 2.48%, PTT rose 1.84%, PTT Exploration and Production rose 0.83%, PTT Global Chemical rose 0.41%, SCG Packaging fell 0, 45%, Siam Commercial Bank grew 0.96%, Siam Concrete grew 0.94%, TTB Bank rose 0.86% and Bangkok Asset Management, Bangkok Dusit Medical and Krung Thai Card remained unchanged.
Wall Street’s lead ended up being slightly positive as stocks opened higher on Friday, but quickly fell into the red before a late rally saw them end with a slight rise.
The Dow added 13.36 points or 0.04% to end at 34,479.60, while the NASDAQ gained 49.09 points or 0.35% to end at 14,069.42 and the S&P 500 rose by 8.26 points or 0.19% to close at 4,247.44. For the week, the NASDAQ jumped 1.8%, the Dow Jones fell 0.8% and the S&P gained 0.4%.
Traders were reluctant to take any significant action ahead of the Federal Reserve’s monetary policy meeting this week. The Fed is expected to leave its monetary policy unchanged, but traders will look for any hint that the central bank is considering reducing its asset purchases.
On the economic news side, the University of Michigan announced a larger-than-expected rebound in its consumer confidence index in June.
Crude oil prices rose on Friday amid rising expectations that global energy demand will pick up thanks to accelerating vaccination deployments. West Texas Intermediate crude oil futures for July were $ 70.91 a barrel, gaining $ 0.62 or 0.9%. For the week, WTI crude futures rose 1.9%, rising for the third week in a row.
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