Win Streak May Continue For Thai Stock Market

(RTTNews) - The Thai stock market has ticked higher in two straight sessions, although it's risen just a single point in that span. The Stock Exchange of Thailand remains just above the 1,625-point plateau and it's looking at a green light again for Monday's trade.

The global forecast for the Asian markets is upbeat following stronger than expected employment data from the United States. The European and U.S. markets were solidly higher and the Asian bourses are tipped to follow suit.

The SET finished barely higher on Friday as gains from the energy companies were offset by weakness from the financial shares.

For the day, the index rose 0.70 points or 0.04 percent to finish at 1,626.32 after trading between 1,626.19 and 1,635.93. Volume was 23.467 billion shares worth 63.703 billion baht.

Among the actives, Advanced Info tanked 2.35 percent, while Asset World sank 0.83 percent, Banpu rallied 2.38 percent, Bangkok Bank fell 0.34 percent, Bangkok Dusit Medical advanced 0.83 percent, Bangkok Expressway skidded 1.07 percent, BTS Group retreated 1.20 percent, Energy Absolute shed 0.77 percent, Gulf slid 0.49 percent, IRPC added 0.63 percent, Kasikornbank lost 0.67 percent, Krung Thai Bank slid 0.57 percent, Krung Thai Card strengthened 1.30 percent, PTT perked 0.70 percent, PTT Exploration and Production jumped 2.13 percent, PTT Global Chemical soared 2.21 percent, Siam Commercial Bank slumped 0.93 percent, Siam Concrete was down 0.59 percent, Thai Oil surged 3.15 percent, True Corporation declined 0.81 percent, TTB Bank weakened 1.44 percent and Thailand Airport, B. Grimm, CP All Public, Charoen Pokphand Foods, PTT Oil & Retail and SCG Packaging were unchanged.

The lead from Wall Street is upbeat as the major averages opened sharply higher on Friday, faded midday but bounced higher again late in the session.

The Dow surged 402.02 points or 1.26 percent to finish at 32,403.22, while the NASDAQ jumped 132.35 points or 1.28 percent to close at 10,475.25 and the S&P 500 climbed 50.66 points or 1.36 percent to end at 3,770.55.

For the week, the NASDAQ plummeted 5.7 percent, the S&P tumbled 3.4 percent and the Dow dropped 1.4 percent.

The volatility followed the release of the Labor Department's closely watched monthly employment report for October.

The report showed non-farm payroll employment jumped by 261,000 jobs in October after surging by an upwardly revised 315,000 jobs in September.

The report generated a mixed reaction among traders, creating uncertainty about the outlook for future interest rate hikes.

Crude oil prices climbed higher Friday amid easing concerns about the outlook for energy demand. A weak dollar and fears of a ban by the European Union on Russian oil also supported crude oil prices. West Texas Intermediate Crude oil futures for December ended higher by $4.44 or 5 percent at $92.61 a barrel.