The Thai stock market has experienced a consecutive three-day upward trend, accumulating over 50 points or a 3.8 percent increase. The Stock Exchange of Thailand (SET) is currently positioned just above the 1,400-point mark, although investors might secure profits on Friday.
The global outlook for Asian markets indicates minimal movement due to the anticipation of key U.S. employment data expected later today. European markets experienced declines, while U.S. markets remained mixed and flat, suggesting a similar trend for Asian markets.
On Thursday, the SET closed significantly higher, supported by gains in the food, finance, industrial, property, resource, service, and technology sectors.
For the day, the index surged by 38.79 points or 2.84 percent to close at 1,404.28, after trading between 1,371.49 and 1,406.49. The trading volume was 14.112 billion shares valued at 81.764 billion baht. There were 435 gainers and 102 decliners, with 135 stocks remaining unchanged.
Key performers included Advanced Info, which skyrocketed 7.66 percent; Thailand Airport, up 2.88 percent; and Asset World, which jumped 3.47 percent. Banpu surged 6.36 percent; Bangkok Bank spiked 2.15 percent; Bangkok Dusit Medical rose 2.70 percent; and Bangkok Expressway added 1.96 percent. B. Grimm rallied 3.72 percent; BTS Group advanced 1.82 percent; CP All Public strengthened 4.96 percent; Energy Absolute dropped 0.80 percent; Gulf spiked 4.90 percent; Kasikornbank rallied 2.45 percent; Krung Thai Bank improved 2.12 percent; and Krung Thai Card soared 4.14 percent. PTT Oil & Retail accelerated 5.88 percent; PTT climbed 2.27 percent; PTT Exploration and Production improved 1.81 percent; PTT Global Chemical surged 6.86 percent; SCG Packaging skyrocketed 8.00 percent; Siam Commercial Bank collected 0.47 percent; Siam Concrete accelerated 4.82 percent; Thai Oil gained 2.35 percent; True Corporation advanced 2.88 percent; TTB Bank climbed 1.08 percent; and Charoen Pokphand Foods stayed unchanged.
Wall Street's performance remained mixed, with major averages hovering around the line for most of Thursday, ultimately showing little change. The Dow Jones Industrial Average lost 219.22 points or 0.54 percent to end at 40,755.75. The NASDAQ added 43.36 points or 0.25 percent to close at 17,127.66, while the S&P 500 dropped 16.66 points or 0.30 percent to finish at 5,503.41.
This mixed outcome followed the release of inconsistent employment data ahead of the Labor Department's highly anticipated monthly jobs report, to be released later today. Economists predict an addition of 160,000 jobs in August, following a rise of 114,000 jobs in July. The unemployment rate is expected to decrease to 4.2 percent in August from 4.3 percent in July, which was the highest rate since October 2021.
Before market trading commenced, payroll processor ADP reported a significantly lower-than-expected increase in private sector employment in the U.S. for August.
Crude oil futures settled lower on Thursday due to concerns over demand outlooks, though the decline was mitigated by reports of OPEC delaying plans to boost production next month. West Texas Intermediate Crude oil futures for October dropped by $0.05 to settle at $69.15 a barrel, marking the lowest settlement in approximately nine months.
