The Thai stock market has experienced a positive trend for four consecutive sessions, amassing over 20 points or a 1.6 percent increase. The Stock Exchange of Thailand (SET) is now positioned just below the 1,320-point mark but may face a slowdown on Thursday.
The global market outlook for Asian markets is mixed and relatively flat, as investors anticipate significant economic data in the upcoming days. European markets saw slight declines, while U.S. stock exchanges recorded minor gains, suggesting a balanced outcome for the Asian markets.
On Wednesday, the SET edged slightly higher. Gains in the resource and technology sectors were balanced out by declines in consumer, finance, industrial, and property stocks. The index inched up by 0.01 points, or 0.00 percent, concluding at 1,319.15 after fluctuating between 1,315.50 and 1,324.48. The volume was 8.435 billion shares, equaling 35.526 billion baht.
Key movements included:
- Advanced Info rose by 0.48 percent.
- Thailand Airport increased by 1.29 percent.
- Asset World dropped by 2.76 percent.
- Bangkok Bank gained 0.38 percent.
- Bangkok Expressway fell by 1.29 percent.
- B. Grimm went up by 0.46 percent.
- BTS Group declined by 1.69 percent.
- CP All Public decreased by 0.44 percent.
- Charoen Pokphand Foods added 0.43 percent.
- Energy Absolute fell by 1.71 percent.
- Gulf surged by 2.50 percent.
- Kasikornbank decreased by 0.78 percent.
- Krung Thai Bank dropped by 0.58 percent.
- Krung Thai Card slid by 1.18 percent.
- PTT Oil & Retail fell by 0.61 percent.
- PTT rose by 0.77 percent.
- SCG Packaging fell by 0.73 percent.
- Siam Commercial Bank decreased by 0.47 percent.
- Siam Concrete declined by 0.44 percent.
- Thai Oil climbed by 1.41 percent.
- True Corporation surged by 3.55 percent.
- TTB Bank fell by 0.57 percent.
- PTT Global Chemical, Banpu, PTT Exploration and Production, and Bangkok Dusit Medical remained unchanged.
On Wall Street, a cautiously optimistic sentiment prevailed as major indices opened lower on Wednesday and hovered near the baseline for most of the day, only to see a late surge propelling them into positive territory.
The Dow gained 15.64 points or 0.04 percent to close at 39,127.80. The NASDAQ increased by 87.50 points or 0.49 percent, ending at 17,805.16, while the S&P 500 saw an 8.50-point increase or 0.16 percent, finishing at 5,477.90.
The mild uncertainty in U.S. markets stemmed from investor anticipation of crucial U.S. inflation data, which could hint at future interest rate policies. Bank stocks were under scrutiny ahead of the Federal Reserve's annual stress test, while energy stocks faced challenges due to lagging oil prices.
In economic developments, the U.S. Commerce Department reported a sharp decline in new home sales for May, accompanied by a drop in building permits.
Crude oil futures slightly rose on Wednesday despite initial declines caused by a significant rise in U.S. crude inventories. West Texas Intermediate crude oil for August delivery increased by $0.07, closing at $80.90 per barrel.
