The Thai stock market has seen a slight increase in the past two sessions, with a gain of 3 points, or 0.2 percent. The Stock Exchange of Thailand (SET) currently stands slightly above the 1,370-point mark, though it could decline on the following Tuesday.
Looking at the global forecast, Asian markets are expected to remain relatively stable in anticipation of key inflation data due to be released later this week. The European markets experienced a downturn, while the U.S. markets yielded mixed and flat results. It is predicted that the Asian markets will follow a similar pattern.
On the previous Monday, the Stock Exchange of Thailand closed with a marginal increase. Gains in the food and industrial sectors were offset by a decline in technology, finance, and resource stocks. At the end of the day, the index had risen by 0.60 points or 0.04 percent to 1,372.50.
In terms of individual stocks, Advanced Info saw a decrease of 0.49 percent, while Thailand Airport experienced a 0.38 percent increase. On the other hand, Energy Absolute plunged 11.86 percent, Gulf decreased by 1.20 percent while PTT Global Chemical rose by 1.40 percent.
The trend from Wall Street is unclear as major averages began the day with an increase on Monday but saw a decline as the day went on, concluding with little changes. The Dow dropped 81.33 points or 0.21 percent, while NASDAQ experienced a modest gain of 0.29 percent and the S&P 500 slightly dropped by 0.02 percent.
The initial increase on Wall Street was driven by a renewed optimism about a prospective interest rate cut by the Federal Reserve in the coming months. However, this interest waned as the day progressed due to the anticipated release of important inflation data that could significantly impact rate outlooks.
Moreover, oil prices increased on Monday primarily because of the anticipated demand outlook after OPEC's decision to extend supply cuts into the second half of the year. The West Texas Intermediate Crude oil futures for June ended higher by $0.86 at $79.12 a barrel.
