Thai Stock Market May Add To Its Winnings On Wednesday

(RTTNews) - The Thai stock market has moved higher in two straight sessions, gathering almost 20 points or 1.4 percent along the way. The Stock Exchange of Thailand now sits just above the 1,460-point plateau and it's likely to open to the upside again on Wednesday.

The global forecast for the Asian markets is mixed to higher, with support again expected from the oil and technology sectors. The European markets were down and the U.S. bourses were mostly higher and the Asian markets are tipped to follow the latter lead.

The SET finished modestly higher on Tuesday following gains from the food, consumer, industrial, property, resource and service sectors.

For the day, the index added 7.33 points or 0.50 percent to finish at 1,460.11 after trading between 1,458.91 and 1,471.48. Volume was 14.481 billion shares worth 46.064 billion baht. There were 330 gainers and 167 decliners, with 168 stocks finishing unchanged.

Among the actives, Advanced Info slumped 0.70 percent, while Thailand Airport jumped 0.82 percent, Asset World improved 1.12 percent, Banpu retreated 0.88 percent, Bangkok Bank dropped 0.99 percent, Bangkok Dusit Medical declined 0.93 percent, Bangkok Expressway was down 0.65 percent, B. Grimm advanced 0.98 percent, CP All Public gathered 0.79 percent, Charoen Pokphand Foods rose 0.41 percent, Energy Absolute skyrocketed 10.34 percent, Gulf increased 0.80 percent, Kasikornbank collected 0.34 percent, Krung Thai Bank shed 0.49 percent, Krung Thai Card sank 0.54 percent, PTT Oil & Retail accelerated 2.05 percent, PTT gained 0.78 percent, PTT Exploration and Production soared 3.24 percent, PTT Global Chemical spiked 2.00 percent, Siam Commercial Bank lost 0.43 percent, Siam Concrete strengthened 1.55 percent, Thai Oil added 0.61 percent, TTB Bank climbed 1.13 percent and SCG Packaging, True Corporation and BTS Group were unchanged.

The lead from Wall Street is cautiously optimistic after the major averages opened lower on Tuesday, although the NASDAQ and S&P 500 managed to finish in the green.

The Dow slumped 120.66 points or 0.28 percent to finish at 43,268.94, while the NASDAQ rallied 195.66 points or 1.04 percent to close at 18.987.47 and the S&P added 23.36 points or 0.40 percent to end at 5,916.98.

The early weakness on Wall Street came amid concerns about escalating tensions between the U.S. and Russia over the war in Ukraine.

After President Joe Biden gave Ukraine permission to attack Russian territory using U.S.-made long-range missiles, Russian President Vladimir Putin has signed a decree amending the country's nuclear doctrine.

Selling pressure waned shortly after the start of trading, however, with an advance by shares of Nvidia (NVDA) helping lead the turnaround by the NASDAQ. Nvidia will release Q3 results later today.

Oil futures settled higher on Tuesday amid the rising possibility of supply disruptions after Ukraine launched long-range U.S. made missiles to hit a facility in Russia's Bryansk region. West Texas Intermediate Crude oil futures for December rose $0.23 or about 0.3 percent at $69.39 a barrel.