(RTTNews) - Ahead of Monday's holiday for Visakha Bucha Day, the Thai stock market had moved lower in consecutive trading days, slipping just 2 points or 0.1 percent in that span. The Stock Exchange of Thailand now sits just beneath the 1,570-point plateau although it's due for support on Tuesday.
The global forecast for the Asian markets suggests mild upside on support from the technology shares. The European markets were down and the U.S. bourses were up and the Asian markets figure to follow the latter lead.
The SET finished barely lower on Friday following losses from the food, consumer, industrial and resource sectors.
For the day, the index eased 0.60 points or 0.04 percent to finish at 1,568.37 after trading between 1,566.34 and 1,581.61. Volume was 12.021 billion shares worth 89.345 billion baht. There were 229 decliners and 219 gainers, with 211 stocks finishing unchanged.
Among the actives, Thailand Airport was up 0.45 percent, while Asset World advanced 0.88 percent, Banpu tanked 2.56 percent, Bangkok Bank collected 0.58 percent, Bangkok Dusit Medical gained 0.55 percent, Bangkok Expressway expanded 0.97 percent, B. Grimm increased 0.72 percent, BTS Group slumped 0.97 percent, CP All Public jumped 1.61 percent, Charoen Pokphand Foods shed 0.52 percent, Energy Absolute lost 0.58 percent, Gulf rose 0.40 percent, Kasikornbank climbed 1.01 percent, Krung Thai Bank sank 0.71 percent, PTT Exploration and Production tumbled 1.74 percent, PTT Global Chemical plummeted 5.63 percent, SCG Packaging retreated 1.26 percent, Thai Oil added 0.54 percent, True Corporation improved 0.73 percent, TTB Bank dropped 0.87 percent and Siam Commercial Bank, Krung Thai Card, Siam Concrete, Advanced Info, PTT Oil & Retail and PTT were unchanged.
The lead from Wall Street is positive as the major averages opened under water on Monday but quickly started to trend higher, finally ending at fresh record closing highs.
The Dow added 46.42 points or 0.09 percent to finish at 51,078.88. while the NASDAQ climbed 114.19 points or 0.42 percent to end at 27,086.81 and the S&P 500 rose 19.90 points or 0.26 percent to close at 7,599.96.
The higher close on Wall Street partly reflected strength among tech stocks after Nvidia (NVDA) unveiled a new superchip RTX Spark in collaboration with Microsoft (MSFT) that the company said reinvents Windows PCs for the era of personal AI agents.
Buying interest was somewhat subdued, however, as the price of crude oil surged in reaction to the latest developments regarding the conflict in the Middle East.
Crude oil prices skyrocketed Monday on reports the U.S. and Iran exchanging attacks while the U.S. is yet to endorse a negotiated settlement to end the war. West Texas Intermediate crude for July delivery was up $4.64 or 5.31 percent at $92.00 per barrel.
However, crude oil prices pulled back off their highs after President Donald Trump said talks with Iran are continuing at a "rapid pace," while positive communications with Israeli Prime Minister Benjamin Netanyahu and Hezbollah also spurred hopes for an end to the war.
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