The Thai stock market declined on Thursday, just a day after putting a stop to a two-day decline where it had lost more than 25 points or 1.7 percent. Currently, the Stock Exchange of Thailand is just over the 1,375-point zone, but it's predicted to rise again on Friday.
The worldwide forecast for Asian markets is optimistic due to strong economic data and a surge in crude oil prices. The European and U.S. markets increased, and it's anticipated that the Asian markets will follow the same trend.
On Thursday, the SET closed slightly down due to losses in the property, tech, and consumer sectors.
On this day, the index lost 5.10 points or 0.37 percent, closing at 1,376.09 after fluctuating between 1,370.78 and 1,379.15. The traded volume was 22.189 billion shares, valued at 41.153 billion baht. 249 stocks declined, 199 increased, and 186 were unchanged.
In terms of active stocks, Advanced Info increased by 0.46 percent, Thailand Airport dropped by 1.66 percent, Asset World lost 0.51 percent, Banpu climbed 0.78 percent, Bangkok Bank slipped 0.69 percent, Bangkok Dusit Medical surged 0.90 percent, Bangkok Expressway fell 0.68 percent, BTS Group decreased 1.46 percent, Charoen Pokphand Foods rose 1.12 percent, amongst other changes. SCG Packaging, B. Grimm, Energy Absolute, PTT, Thai Oil, and CP All Public remained the same.
Wall Street paints a positive picture as the major averages opened higher and despite a midday dip, ended notably in the green.
The Dow surged 242.74 points or 0.64 percent to conclude at 38,049.13, the NASDAQ rose 28.58 points or 0.18 percent to settle at 15,510.50, and the S&P 500 grew 25.61 points or 0.53 percent to close at a new record high of 4,894.16.
The early increase on Wall Street came in response to a Commerce Department report indicating stronger than anticipated U.S. economic growth, along with a deceleration in inflation in the fourth quarter of 2023.
However, as the session progressed, the buying interest faded as traders shifted their focus to Friday's report on personal income and spending, which could largely impact the prospect for interest rates.
Oil prices experienced a substantial increase on Thursday, largely due to Wednesday's data that demonstrated a larger than expected decrease in U.S. crude inventory. The futures for West Texas Intermediate Crude oil in March jumped $2.27 or 3 percent, sitting at $77.36 a barrel.
