Win Streak May Continue For Thai Stock Market


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(RTTNews.com) - The Thai stock market has finished higher in back-to-back sessions, gathering almost 8 points or 0.5 percent along the way. The Stock Exchange of Thailand now rests just above the 1,580-point plateau and it's expected to open in the green again on Tuesday.

The global forecast for the Asian markets is firm thanks to positive news from Europe, although persistent weakness in crude oil prices may cap the upside. The European and U.S. markets were up and the Asian bourses figure to follow suit.

The SET finished modestly higher on Monday as gains from the energy producers were capped by weakness from the cement stocks and a mixed picture from the financial sector.

Among the actives, Thailand Airport spiked 2.76 percent, while Banpu skidded 1.11 percent, Bangkok Bank added 0.28 percent, Bangkok Medical Services dropped 1.05 percent, Krung Thai Bank shed 0.53 percent, PTT gained 0.26 percent, PTT Exploration and Production perked 0.85 percent, Siam Concrete plummeted 1.16 percent and Kasikornbank and PTT Global Chemical were unchanged.

The lead from Wall Street is broadly positive as stocks moved higher on Monday, allowing the Dow and the S&P 500 to both hit new record closing highs.

The Dow climbed 144.71 points or 0.7 percent to 21,528.99, while the NASDAQ surged 87.25 points or 1.4 percent to 6,239.01 and the S&P added 20.31 points or 0.8 percent to 2,453.46.

The buying interest on Wall Street was in reaction to political news out of Europe. Brexit negotiations with the EU have begun after Britain bowed to pressure for a formal opening to their long-awaited negotiations.

Also, French President Emmanuel Macron's party won a clear parliamentary majority in Sunday's election, giving him a strong mandate in parliament to pursue his pro-European Union, business-friendly reform plans.

Crude oil futures fell Monday as the dollar strengthened on expectations the Federal Reserve will again raise interest rates in the next few months. WTI light sweet crude oil was down 58 cents at $44.17 a barrel.

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This article appears in: Politics , World Markets , US Markets , Stocks
Referenced Symbols: BBL , BNPJY , KBANK , KGTFY , PTTEP


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