Thai Stock Market May Extend Monday's Gains

(RTTNews) - The Thai stock market on Monday wrote a finish to the two-day slide in which it had fallen almost 15 points or 1 percent. The Stock Exchange of Thailand now rests just above the 1,530-point plateau and it may add to its winnings on Tuesday.

The global forecast for the Asian markets is mixed on concerns for economic recovery. The European markets were down and the U.S. bourses were mixed and the Asian markets figure to follow the latter lead.

The SET finished slightly higher on Monday following gains from the financial shares and the energy producers.

For the day, the index rose 2.92 points or 0.19 percent to finish at 1,531.24 after trading between 1,512.28 and 1,532.94. Volume was 32.266 billion shares worth 77.166 billion baht. There were 1,101 decliners and 635 gainers, with 447 stocks finishing unchanged.

Among the actives, Advanced info tumbled 1.90 percent, while Thailand Airport added 0.45 percent, Bangkok bank collected 0.49 percent, Bangkok Medical rose 0.43 percent, Bangkok Expressway gained 0.65 percent, Charoen Pokphand Foods dropped 0.96 percent, Gulf shed 0.66 percent, Kasikornbank climbed 1.45 percent, Krung Thai Bank advanced 0.97 percent, Krung Thai Card skidded 1.69 percent, PTT Perked 0.71 percent, PTT Exploration and Production spiked 1.46 percent, PTT Global Chemical improved 0.83 percent, Siam Commercial Bank increased 0.78 percent, Siam Concrete retreated 0.98 percent, SCG Packaging surged 3.66 percent and TTB, BTS and PTT Oil & Retail were unchanged.

The lead from Wall Street is mixed as the major averages opened under water on Monday, although the Dow and S&P rallied late to climb into the green and hit fresh record closing highs.

The Dow jumped 110.02 points or 0.31 percent to finish at 35,625,40, while the NASDAQ shed 29.13 points or 0.20 percent to close at 14,793.76 and the S&P 500 gained 11.71 points or 0.26 percent to end at 4,479.71.

The mixed performance on Wall Street came as traders remain optimistic about the outlook for the markets despite some signs of weakness in the global economy.

Negative sentiment was also generated by a report from the New York Federal Reserve showing New York manufacturing activity saw significantly slower growth in August.

Crude oil futures settled sharply lower Monday, extending losses to a third session amid worries about the outlook for energy demand. West Texas Intermediate Crude oil futures for September shed $1.15 or 1.7 percent at $67.29 a barrel.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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