(RTTNews) – The Thai stock market has advanced for three consecutive sessions, gaining nearly 25 points, or 2 percent, during that period. The Stock Exchange of Thailand is now just above the 1,310-point plateau and is expected to open higher again on Monday.
Global forecasts for Asian markets are upbeat, driven by an improving interest rate outlook. European markets posted mixed results, US bourses advanced and Asian markets are expected to split the difference.
The SET index ended slightly higher on Friday following gains in the food, financials, industrials, real estate, resources, services and technology sectors.
On the day, the index gained 10.95 points, or 0.84 percent, to end at 1,311.99 after trading between 1,298.43 and 1,312.75. Trading volume totaled 11.774 billion shares, worth 32.992 billion baht. There were 354 gainers and 97 decliners, with 199 stocks ending unchanged.
Among the assets, Thailand Airport fell 0.44%, while Asset World climbed 2.25%, Banpu surged 4%, Bangkok Bank gained 0.37%, Bangkok Dusit Medical gained 0.94%, Bangkok Expressway rose 0.0.66%, B. Grimm rose 0.47%, CP All Public climbed 1.37%, Charoen Pokphand Foods added 0.43%, Energy Absolute climbed 12.30%, Kasikornbank advanced 1.57%, Krung Thai Card declined 1.28%, PTT Oil & Retail gained 1.26%, PTT gained 0.76%, PTT Exploration and Production gained 0.33%, PTT Global Chemical gained 1.65%, Siam Commercial Bank gained 0.96%, Siam Concrete gained 0.44%, Thai Oil & Gas gained 0.76%, PTT Exploration and Production gained 0.76%, PTT Global Chemical … accelerated by 1.36, True Corporation fell by 1.12%, TTB Bank jumped by 1.72% and Krung Thai Bank, SCG Packaging, Advanced Info, Gulf and BTS Group remained unchanged.
Wall Street’s lead was solid, with the major averages opening flat but generally moving higher throughout the trading day, finishing near session highs.
The Dow Jones Industrial Average gained 67.87 points, or 0.17%, to close at 39,375.87, while the NASDAQ gained 164.46 points, or 0.90%, to close at a record high of 18,352.76, and the S&P 500 gained 30.17 points, or 0.54%, to close at 5,567.19, also a record.
During the holiday-interrupted week, the NASDAQ climbed 3.5%, the S&P 500 jumped 2.0% and the Dow gained 0.7%.
The strength on Wall Street came as the Labor Department’s closely watched monthly jobs report for June raised optimism about the outlook for interest rates.
While employment increased more than expected in June, the report also showed downward revisions to job growth in April and May, as well as another unexpected rise in the unemployment rate.
Treasury yields fell after the report, amid optimism that continued increases in the unemployment rate will convince the Federal Reserve to cut interest rates in the near future.
Oil futures fell Friday, but still posted their fourth straight weekly gain amid optimism about the demand outlook. West Texas Intermediate crude oil futures for August ended down $0.72, or 0.86%, at $83.16 a barrel. WTI crude futures gained about 2% for the week.
The views and opinions expressed herein are those of the author and do not necessarily reflect those of Nasdaq, Inc.
