Thai Shares Due For Support On Tuesday

(RTTNews) - The Thai stock market has moved lower in consecutive trading days, slumping more than a dozen points or 0.8 percent along the way. The Stock Exchange of Thailand now sits just above the 1,455-point plateau and it's expected to open to the upside on Tuesday.

The global forecast for the Asian markets is positive, mostly on inertia following the U.S. election. The European and U.S. markets were up and the Asian bourses are expected to follow that lead.

The SET finished modestly lower on Monday following losses from the food, consumer, finance, industrial, property, resource and service sectors.

For the day, the index shed 8.22 points or 0.56 percent to finish at 1,456.47 after trading between 1,452.81 and 1,465.29. Volume was 14.504 billion shares worth 39.777 billion baht. There were 381 decliners and 144 gainers, with 141 stocks finishing unchanged.

Among the actives, Advanced Info gained 0.71 percent, while Thailand Airport dipped 0.41 percent, Asset World surrendered 2.76 percent, Bangkok Bank retreated 1.35 percent, B. Grimm slumped 0.94 percent, BTS Group was down 1.61 percent, CP All Public slid 1.17 percent, Charoen Pokphand Foods dropped 0.82 percent, Energy Absolute tumbled 2.94 percent, Gulf weakened 1.54 percent, Kasikornbank sank 0.67 percent, Krung Thai Bank skidded 0.95 percent, Krung Thai Card climbed 1.08 percent, PTT lost 0.75 percent, PTT Exploration and Production fell 1.18 percent, PTT Global Chemical plunged 4.63 percent, SCG Packaging tanked 2.98 percent, Siam Commercial Bank shed 0.87 percent, Siam Concrete added 0.51 percent, Thai Oil plummeted 2,34 percent, TTB Bank stumbled 1.68 percent and True Corporation, Banpu, PTT Oil & Retail, Bangkok Dusit Medical and Bangkok Expressway were unchanged.

The lead from Wall Street is cautiously optimistic as the major averages opened higher on Monday and spent most of the day hugging line before finishing with mild gains that were all fresh record closing highs.

The Dow jumped 304.14 points or 0.69 percent to finish at 44,294.13, while the NASDAQ rose 11.99 points or 0.06 percent to close at 19,298.76 and the S&P 500 added 5.81 points or 0.10 percent to end at 6,001.35.

Investors remained optimistic that Donald Trump's policies such as tax reductions and deregulation will help boost corporate earnings.

Oil futures closed sharply lower on Monday, weighed down by a stronger dollar and concerns about demand. West Texas Intermediate Crude oil futures for December ended down $2.34 or 3.6 percent at $68.04 a barrel.