Thai Stock Market Overdue For Support On Wednesday

RTTNews | 819 dias atrás
Thai Stock Market Overdue For Support On Wednesday

(RTTNews) - The Thai stock market has finished lower in three straight sessions, plunging more than 90 points or 5.7percent along the way. The Stock Exchange of Thailand now rests just beneath the 1,525-point plateau although it should finally catch a break on Wednesday.

The global forecast for the Asian markets is positive on bargain hunting and encouraging inflation data. The European and U.S. markets were sharply higher and the Asian bourses figure to follow that lead.

The SET finished sharply lower on Tuesday with losses in every sector, although the financials and resource stocks were hit especially hard.

For the day, the index retreated 49.18 points or 3.13 percent to finish at 1,523.89 after trading between 1,518.66 and 1,572.36. Volume was 23.734 billion shares worth 103.839 billion baht. There were 1,554 decliners and 295 gainers, with 196 stocks finishing unchanged.

Among the actives, Advanced Info eased 0.50 percent, while Thailand Airport declined 2.21 percent, Asset World slumped 2.78 percent, Banpu retreated 2.80 percent, Bangkok Bank tumbled 2.94 percent, Bangkok Dusit Medical shed 1.79 percent, B. Grimm weakened 4.58 percent, CP All Public tanked 3.63 percent, Charoen Pokphand Foods plummeted 5.05 percent, Energy Absolute plunged 4.97 percent, Gulf tumbled 3.94 percent, Kasikornbank fell 1.17 percent, Krung Thai Bank surrendered 3.59 percent, Krung Thai Card and PTT Global Chemical both declined 3.23 percent, PTT Oil & Retail declined 2.46 percent, PTT stumbled 2.48 percent, PTT Exploration and Production slumped 3/07 percent, SCG Packaging dropped 3.43 percent, Siam Commercial Bank lost 2.26 percent, Siam Concrete plummeted 3.95 percent, Thai Oil lost 2.87 percent and TTB Bank crashed 4.41 percent.

The lead from Wall Street is upbeat as the major averages opened sharply higher on Tuesday and remained in the green throughout the session.

The Dow jumped 336.26 points or 1.06 percent to finish at 32,155.40, while the NASDAQ rallied 239.31 points or 2.14 percent to end at 11,428.15 and the S&P 500 advanced 63.53 points or 1.65 percent to close at 3,919.29.

The strength on Wall Street was fueled by bargain hunting, particularly in the banking sector after regulators said there won't be a relapse of the financial crisis from 15 years ago.

Data showing a drop in U.S. consumer prices in February contributed significantly to the positive mood in the market, allaying fears of an accelerated rate hike from the Federal Reserve.

Crude oil prices fell sharply to a nine-week low on Tuesday amid concerns a fresh financial crisis following the collapse of Silicon Valley Bank and Signature Bank could significantly hurt demand. West Texas Intermediate Crude oil futures for April sank $3.47 or 4.7 percent at $71.33 a barrel.

read more
Japanese Market Modestly Higher

Japanese Market Modestly Higher

The Japanese stock market is trading modestly higher on Wednesday, extending the gains in the previous three sessions, following the broadly positive cues from Wall Street overnight. The Nikkei 225 is moving above the 38,300 level, with gains across most sectors led by index heavyweights and technology stocks. Financial stocks are a weak spot.
RTTNews | 28 minutos atrás
Indonesia Shares May Open To The Upside

Indonesia Shares May Open To The Upside

The Indonesia stock market has moved higher in three straight sessions, gathering almost 190 points or 2.7 percent along the way. The Jakarta Composite Index now rests just above the 7,230-point plateau and it's looking at a firm lead again for Wednesday's trade.
RTTNews | 32 minutos atrás
Higher Open Expected For Hong Kong Shares

Higher Open Expected For Hong Kong Shares

The Hong Kong stock market has moved lower in two of three trading days since the end of the three-day winning streak in which it had rallied almost 750 points or 3.5 percent. The Hang Seng Index now sits just above the 24,160-point plateau and it's likely to remain rangebound on Wednesday.
RTTNews | 47 minutos atrás
Australian Market Notably Higher

Australian Market Notably Higher

Australian shares are trading notably higher on Wednesday, extending the gains in the previous session, with the benchmark S&P/ASX 200 moving well above the 8,600 level, following the broadly positive cues from Wall Street overnight, with gains across most sectors led by energy and technology stocks.
RTTNews | 51 minutos atrás
Taiwan Shares Tipped To Open In The Green On Wednesday

Taiwan Shares Tipped To Open In The Green On Wednesday

The Taiwan stock market has moved higher in back-to-back sessions, accelerating more than 580 points or 2.6 percent along the way. The Taiwan Stock Exchange now sits just above the 22,240-point plateau and it has a positive lead again for Wednesday's trade.
RTTNews | 1h 32min atrás
Singapore Shares May Reverse Tuesday's Losses

Singapore Shares May Reverse Tuesday's Losses

The Singapore stock market on Tuesday halted the five-day winning streak in which it had collected more than 40 points or 1 percent. The Straits Times Index now sits just beneath the 3,935-point plateau although it may bounce higher again on Wednesday.
RTTNews | 2h 2min atrás
Malaysia Bourse Likely To Remain Rangebound

Malaysia Bourse Likely To Remain Rangebound

The Malaysia stock market has moved lower in two of three trading days since the end of the two-day winning streak in which it had gained almost 15 points or 1 percent. The Kuala Lumpur Composite Index now sits just above the 1,515-point plateau and it's expected to remain in that neighborhood again on Tuesday.
RTTNews | 2h 32min atrás