Thai Shares Expected To Open To The Upside On Tuesday

(RTTNews) - The Thai stock market has moved higher in two of three trading days since the end of the five-day losing streak in which it had dropped more than 15 points or 1.2 percent. The Stock Exchange of Thailand now sits just above the 1,305-point plateau and it's called higher again on Tuesday. The global forecast for the Asian markets is broadly positive on optimism that the end of the U.S. government shutdown in near. The European and U.S. markets were sharply higher and the Asian bourses are expected to follow that lead.

The SET finished slightly higher on Monday following gains from the food, finance, industrial, property, resource and service sectors. For the day, the index rose 3.35 points or 0.26 percent to finish at 1,306.26 after trading between 1,299.29 and 1,310.71. Volume was 6.307 billion shares worth 29.428 billion baht. There were 228 gainers and 214 decliners, with 206 stocks finishing unchanged. Among the actives, Advanced Info and Bangkok Bank both collected 0.32 percent, while Thailand Airport jumped 1.83 percent, Asset World spiked 2.80 percent, Banpu increased 0.82 percent, Bangkok Dusit Medical perked 0.54 percent, Bangkok Expressway dropped 0.89 percent, BTS Group was up 1.47 percent, CP All Public and Kasikornbank both climbed 1.11 percent, Charoen Pokphand Foods added 0.48 percent, Gulf lost 0.57 percent, Krung Thai Card improved 0.88 percent, PTT Oil & Retail expanded 0.70 percent, PTT Exploration and Production gathered 0.47 percent, PTT Global Chemical advanced 0.98 percent, SCG Packaging gained 0.57 percent, Siam Commercial Bank rose 0.39 percent, Thai Oil surged 4.35 percent, TTB Bank shed 0.55 percent and Krung Thai Bank, Siam Concrete, True Corporation, B. Grimm, Energy Absolute and PTT were unchanged.

The lead from Wall Street is solid as the major averages opened higher on Monday and largely spent most of the sessions firmly in positive territory.

The Dow jumped 381.53 points or 0.81 percent to finish at 47,368.63, while the NASDAQ surged 522.64 points or 2.27 percent to close at 23,527.17 and the S&P 500 rallied 103.63 points or 1.54 percent to end at 6,832.43.

The strength on Wall Street came after the Senate voted to advance legislation to end the government shutdown, which recently became the longest in U.S. history. The Senate voted 60-40 in favor of a temporary funding bill, which would also reverse some of the recent mass federal layoffs.

Several Democratic Senators broke with party leaders in favor of moving forward with the legislation, as it does call for a vote on the extension of enhanced Obamacare tax credits.

The end of the shutdown would also lead to the resumption of the release of key U.S. economic data that has recently been withheld.

Crude oil prices moved higher on Monday on the prospects of the U.S. government shutdown coming to a close. West Texas Intermediate crude for December delivery was up $0.31 or 0.52 percent at $60.06 per barrel.