Win Streak May Continue For Thai Stock Market

(RTTNews) - The Thai Stock market has moved higher in back-to-back sessions, collecting more than 15 points or 1 percent in that span. The Stock Exchange of Thailand now sits just above the 1,530-point plateau and it may add to its winnings again on Friday.

The global forecast for the Asian markets is cautiously optimistic on easing crude oil prices. The European markets were mixed and the U.S. bourses were up and the Asian markets figure to split the difference.

The SET finished modestly higher on Thursday following gains from the food, consumer, property, resource and service sectors.

For the day, the index rose 4.24 points or 0.28 percent to finish at 1,532.67 after trading between 1,530.93 and 1,541.96. Volume was 9.612 billion shares worth 54.734 billion baht. There were 252 gainers and 192 decliners, with 206 stocks finishing unchanged.

Among the actives, Advanced Info tanked 2.72 percent, while Thailand Airport gathered 0.48 percent, Banpu jumped 1.72 percent, Bangkok Bank dropped 0.88 percent, Bangkok Dusit Medical rose 0.55 percent, B. Grimm rallied 3.05 percent, BTS Group slumped 0.98 percent, Charoen Pokphand Foods climbed 1.06 percent, Energy Absolute surged 5.00 percent, Gulf increased 0.83 percent, Kasikornbank sank 0.76 percent, Krung Thai Card improved 0.87 percent, PTT Oil & Retail gained 0.79 percent, PTT collected 0.68 percent, PTT Exploration and Production declined 1.63 percent, PTT Global Chemical retreated 1.32 percent, Siam Commercial Bank fell 0.37 percent, Siam Concrete added 0.44 percent, Thai Oil shed 0.53 percent, True Corporation surrendered 2.76 percent, TTB Bank tumbled 1.71 percent and Krung Thai Bank, SCG Packaging, Asset World, CP All Public and Bangkok Expressway were unchanged.

The lead from Wall Street is positive as the major averages spent the first half of Thursday in the red before bouncing firmly into positive territory, ending near daily highs.

The Dow climbed 276.31 points or 0.55 percent to finish at 50,285.66, while the NASDAQ added 22.74 points or 0.09 percent to end at 26,293.10 and the S&P 500 rose 12.75 points or 0.17 percent to close at 7,445.72.

The initial pullback on Wall Street came amid a substantial rebound by the price of crude oil, with U.S. crude oil futures surging as much as 4.5 percent after plummeting by 5.7 percent on Wednesday.

Unable to hold those early gains, crude oil prices turned lower over the course of trading on Thursday as investors watched developments in the U.S.-Iran peace talks. West Texas Intermediate crude for July delivery was down $1.41 or 1.43 percent at $96.85 per barrel.

Meanwhile, traders seemed to shrug off the negative reaction to earnings news from Nvidia (NVDA), although the AI leader still slumped by 1.8 percent.