(RTTNews) - The Thai stock market has finished higher in three straight sessions, gathering more than 25 points or 1.6 percent along the way. The Stock Exchange of Thailand now rests just above the 1,660-point plateau and it's expected to add to its winnings on Wednesday.
The global forecast for the Asian markets is upbeat, with markets continuing to ride positive momentum as they turn the calendar page after a tough month. The European and U.S. markets were up and the Asian bourses figure to follow that lead.
The SET finished modestly higher on Tuesday following gains from the financial shares and a mixed picture from the energy producers.
For the day, the index advanced 12.94 points or 0.78 percent to finish at 1,661.75 after trading between 1,658.26 and 1,663.76. Volume was 19.923 billion shares worth 59.439 billion baht. There were 1,037 gainers and 646 decliners, with 524 stocks finishing unchanged.
Among the actives, Advanced Info added 0.45 percent, while Thailand Airport gained 0.78 percent, Asset World shed 0.41 percent, Banpu dropped 0.90 percent, Bangkok Bank collected 0.74 percent, Bangkok Dusit Medical improved 0.45 percent, Bangkok Expressway jumped 1.83 percent, BTS Group climbed 1.09 percent, CP All Public fell 0.40 percent, Charoen Pokphand Foods strengthened 1.98 percent, Energy Absolute rallied 2.52 percent, Gulf spiked 3.06 percent, IRPC increased 0.53 percent, Kasikornbank gathered 0.67 percent, Krung Thai Bank retreated 1.43 percent, Krung Thai Card advanced 1.25 percent, Land & Houses skidded 1.02 percent, PTT lost 0.64 percent, PTT Exploration and Production sank 0.77 percent, SCG Packaging was up 0.40 percent, Siam Commercial Bank perked 1.20 percent, True Corporation added 0.41 percent and TTB Bank, PTT Oil & Retail, PTT Global Chemical and Siam Concrete were unchanged.
The lead from Wall Street ends up being positive as the major averages opened mixed and spent most of Tuesday hugging the unchanged line before a late rally pushed them firmly into the green.
The Dow jumped 273.38 points or 0.78 percent to finish at 35,405.24, while the NASDAQ climbed 106.12 points or 0.75 percent to close at 14,346.00 and the S&P 500 gained 30.99 points or 0.69 percent to end at 4,546.54.
The strength that emerged on Wall Street came as traders continued to pick up stocks at relatively reduced levels following a disappointing January.
A positive reaction to the latest earnings news also contributed to the continued advance, led by solid numbers from UPS (UPS) and ExxonMobil (XOM).
In U.S. economic news, the Institute for Supply Management said growth in U.S. manufacturing activity continued to slow in January.
Crude oil futures settled slightly higher Tuesday ahead of the OPEC meeting later today, which is expected to see the group maintain current production plans. West Texas Intermediate Crude oil futures for March edged up by $0.05 or 0.06 percent at $88.20 a barrel.
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