Thai Shares May Open Higher On Return From Break

(RTTNews) - Ahead of the long break for the Songkran Festival, the Thai Stock market had climbed higher in four straight sessions, advancing more than 50 points or 3.4 percent in that span. The Stock Exchange of Thailand now sits just above the 1,500-point plateau and it's expected see further upward movement on Thursday.

The global forecast for the Asian markets is murky, with profit taking warring with support from the oil and technology sectors. The European and U.S. markets were mixed and the Asian bourses are expected to behave similarly.

The SET finished sharply higher on Friday following gains from the food, industrial, property and technology sectors.

For the day, the index jumped 17.18 points or 1.15 percent to finish at 1,506.84 after trading between 1,494.60 and 1,510.02. Volume was 6.247 billion shares worth 43.883 billion baht. There were 250 gainers and 170 decliners, with 237 stocks finishing unchanged.

Among the actives, Advanced Info rose 0.28 percent, while Thailand Airport slumped 1.37 percent, Banpu dropped 0.85 percent, Bangkok Dusit Medical skidded 1.06 percent, Bangkok Expressway gained 0.95 percent, B. Grimm, Gulf and TTB Bank all improved 0.85 percent, BTS Group expanded 0.94 percent, CP All Public climbed 1.06 percent, Charoen Pokphand Foods advanced 0.97 percent, Energy Absolute vaulted 1.53 percent, Kasikornbank collected 0.52 percent, Krung Thai Bank plummeted 6.38 percent, Krung Thai Card plunged 4.13 percent, PTT Oil & Retail increased 0.83 percent, PTT tumbled 2.11 percent, PTT Global Chemical strengthened 1.39 percent, SCG Packaging soared 3.98 percent, Siam Commercial Bank added 0.69 percent, Siam Concrete jumped 1.90 percent, Thai Oil stumbled 2.08 percent, True Corporation shed 0.69 percent and Bangkok Bank, Asset World and PTT Exploration and Production were unchanged.

The lead from Wall Street provides little clarity as the major averages opened higher on Wednesday, although the Dow splintered off and finished slightly under water.

The Dow shed 72.27 points or 0.15 percent to finish at 48,463.72, while the NASDAQ jumped 376.93 points or 1.59 percent to end at a record 24,016.02 and the S&P 500 gained 55.57 points or 0.80 percent to close at 7,022.95, also a record.

The extended surge by the NASDAQ reflected strength among tech stocks, with Broadcom (AVGO) helping to lead the sector higher after the chip maker announced a multi-year strategic partnership with Meta's (META).

Traders also expressed optimism about a resolution of the conflict in the Middle East even as they await additional details about another round of peace talks between the U.S. and Iran.

Crude oil edged higher on Wednesday as traders weighed the prospects of success in the upcoming U.S-Iran talks against the ongoing U.S. blockade on all Iranian ports across the Strait of Hormuz, which is keeping the supply concerns alive. West Texas Intermediate crude for May was up $0.36 or 0.39 percent at $91.64 per barrel.