Thai stock market could open under pressure on Tuesday

(RTTNews) – Thailand’s stock market has advanced in consecutive trading days, picking up almost 20 points or 1.6 percent along the way. The Thai Stock Exchange now sits just above the 1,315-point plateau, although it is expected to head south on Tuesday.

Global forecasts for Asian markets are mixed, with continued profit-taking among technology stocks likely to limit any upside potential. European markets were up and US stock markets were mostly down and Asian markets are expected to follow the latter example.

The SET ended slightly higher on Monday following gains in the food, financial, industrials, real estate, resources and technology sectors.

For the day, the index gained 10.32 points or 0.79 percent to end at 1,316.73 after trading between 1,300.36 and 1,317.63. The volume was 12.486 billion shares worth 38.421 billion baht. There were 310 stocks up and 172 down, and 178 stocks finished unchanged.

Among assets, Advanced Info lost 0.48 percent, while Thailand Airport plunged 2.90 percent, Banpu fell 0.99 percent, Bangkok Dusit Medical gained 2.19 percent , B. Grimm jumped 1.40 percent, BTS Group climbed 3.93 percent, CP All Public jumped 2.29 percent, Charoen. Pokphand Foods accelerated 2.70 percent, Energy Absolute fell 1.10 percent, Kasikornbank rose 1.60 percent, Krung Thai Bank climbed 1.18 percent, Krung Thai Card rose strengthened by 1.20 percent, PTT Oil & Retail added 0.62 percent, PTT climbed 1.56 percent, PTT Exploration and Production gained 0.66. percent, SCG Packaging rose 1.49 percent, Siam Commercial Bank collected 0.47 percent, Siam Concrete rose 1.35 percent, Thai Oil advanced 0.96 percent, True Corporation sank 0.59 percent, TTB Bank climbed 2.38 percent and Bangkok Bank, PTT Global Chemical, Asset World, Gulf and Bangkok Expressway remained unchanged.

Wall Street’s lead continues to be a dichotomy as the major averages opened mixed and closed similarly, with only the Dow finishing in the green.

The Dow rose 260.88 points or 0.67 percent to end at 39,411.21, while the NASDAQ fell 192.54 points or 1.09 percent to close at 17,496.82 and the S&P 500 fell 16.75 points or 0.31 percent to finish at 5,447.87.

The weakness on Wall Street came as technology stocks dragged markets lower, with Nvidia Corporation, Dell Technologies and QualComm all falling due to profit-taking.

Traders were also eagerly awaiting Friday’s Commerce Department report on personal income and spending in May, which includes inflation figures that would be favored by the Federal Reserve.

Oil prices rose Monday on optimism about the demand outlook and likely supply disruptions due to tensions in the Middle East. West Texas Intermediate crude oil futures for August rose $0.90 or 1.1 percent to $81.63 a barrel.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.