Win Streak May End For Thai Stock Market

(RTTNews) - The Thai stock market has moved higher in back-to-back sessions, adding more than a dozen points or 1 percent in that span. The Stock Exchange of Thailand now sits just shy of the 1,250-point plateau although the rally may stall on Wednesday.

The global forecast for the Asian markets is negative on renewed ambiguity surrounding U.S. tariff policies. The European and U.S. markets were down and the Asian bourses are expected to follow that lead.

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

For the day, the index rose 4.30 points or 0.35 percent to finish at 1,248.78 after trading between 1,243.48 and 1,253.60. Volume was 8.227 billion share worth 34.424 billion baht. There were 271 gainers and 174 decliners, with 204 stocks finishing unchanged.

Among the actives, Advanced Info rose 0.33 percent, while Asset World tanked 2.59 percent, Banpu strengthened 2.07 percent, Bangkok Bank collected 0.65 percent, Bangkok Expressway dropped 0.95 percent, B. Grimm retreated 1.56 percent, CP All Public climbed 1.11 percent, Krung Thai Bank rallied 1.41 percent, Krung Thai Card jumped 1.87 percent, PTT Oil & Retail sank 0.75 percent, PTT Exploration and Production accelerated 2.20 percent, PTT Global Chemical surged 5.71 percent, SCG Packaging added 0.57 percent, Siam Commercial Bank tumbled 1.94 percent, Siam Concrete gained 0.47 percent, Thai Oil soared 4.51 percent, True Corporation spiked 2.63 percent, TTB Bank shed 0.52 percent and Charoen Pokphand Foods, Kasikornbank, Energy Absolute, Gulf, PTT, Bangkok Dusit Medical, Thailand Airport and BTS Group were unchanged.

The lead from Wall Street is weak as the major averages opened lower and remained in the red throughout the day, although off session lows.

The Dow dropped 249.07 points or 0.55 percent to finish at 45,295.81, while the NASDAQ sank 175.92 points or 0.82 percent to end at 21,279.63 and the S&P 500 lost 44.72 points or 0.69 percent to close at 6,415.54.

The early sell-off on Wall Street came amid renewed trade uncertainty after the U.S. Court of Appeals for the Federal Circuit ruled most of President Donald Trump's global tariffs are illegal.

Treasury yields surged in reaction to the ruling amid concerns the government may have to repay the billions of dollars already brought in through Trump's tariffs.

In U.S. economic news, the Institute for Supply Management released a report showing a slight increase by its reading on U.S. manufacturing activity in August, although the index still posted its sixth consecutive month of contraction.

Crude oil jumped on Tuesday on concerns about supply disruptions increased following strikes on Russian energy sites by Ukraine. West Texas Intermediate crude for October delivery was up $1.51 or 2.36 percent at $65.52 per barrel.