The Thai stock market has experienced fluctuation, alternating between gains and losses over the past four trading sessions since ending a two-day rally that saw an increase of over 20 points or 1.6 percent. Currently, the Stock Exchange of Thailand holds just above the 1,345-point level and is poised to continue its upward trend on Wednesday.
The global outlook for Asian markets is optimistic, with anticipation surrounding the Federal Open Market Committee's (FOMC) rate decision later today. European markets displayed mixed results, while U.S. markets experienced gains, suggesting a positive influence on Asian markets.
On Tuesday, the SET posted modest gains, as upticks in consumer, financial, property, resources, and services stocks mitigated downturns in the food, industrial, and technology sectors.
For the day's activity, the index increased by 4.83 points, or 0.36 percent, closing at 1,345.77 after fluctuating between 1,334.26 and 1,347.54. The session saw a volume of 7.480 billion shares, valued at 36.900 billion baht. There were 285 stocks advancing, 179 declining, and 189 remaining unchanged.
Among the prominent stocks, Advanced Info gained 0.35 percent, Thailand Airport rose by 0.90 percent, Asset World surged 3.90 percent, Banpu dropped 3.74 percent, Bangkok Bank rose by 0.65 percent, Bangkok Dusit Medical increased by 2.14 percent, Bangkok Expressway added 0.74 percent, B. Grimm jumped 1.94 percent, BTS Group advanced 1.61 percent, CP All Public climbed 1.79 percent, Charoen Pokphand Foods decreased by 0.43 percent, Energy Absolute increased by 0.60 percent, Gulf added 0.84 percent, Kasikornbank gained 1.26 percent, Krung Thai Card rose by 0.49 percent, PTT Oil & Retail surged 3.48 percent, both PTT and Siam Commercial Bank improved by 0.81 percent, PTT Exploration and Production edged up 0.82 percent, SCG Packaging dropped 2.40 percent, Siam Concrete fell by 0.65 percent, TTB Bank increased by 1.06 percent, with Krung Thai Bank, PTT Global Chemical, True Corporation, and Thai Oil remaining static.
From Wall Street, the mood was positive as major indices began slightly lower on Tuesday but quickly recovered, maintaining positive momentum for the rest of the session.
The Dow increased by 136.77 points or 0.31 percent, finishing at 44,850.35, while the NASDAQ surged 391.75 points or 2.03 percent to close at 19,733.59, and the S&P 500 gained 55.42 points or 0.92 percent, ending at 6,067.70.
Wall Street's strength was driven by investors seeking opportunities in technology stocks, buying them at diminished prices following a prior sell-off in the sector.
Nevertheless, buying activity was contained as market participants awaited the Federal Reserve's upcoming monetary policy announcement. Although the Fed is anticipated to maintain interest rates, investors are keenly observing the accompanying statement for insights into future rate directions.
Economic announcements included a sharp decline in new orders for U.S. manufactured durable goods in December, as reported by the Commerce Department. Additionally, the Conference Board disclosed a drop in its U.S. consumer confidence index from a significantly revised higher level in January.
Oil prices increased on Tuesday due to supply disruptions in Libya, where protesters halted tanker loading at the nation's two largest ports. West Texas Intermediate Crude oil futures for February ended the day $0.60, or 0.82 percent higher, at $73.77 per barrel.
