Thailand’s stock market could spin its wheels on Thursday

(RTTNews) – Thailand’s stock market has advanced in back-to-back sessions, reaping more than a dozen points or 0.7% along the way. Thailand’s stock market is now just above the 1,680 plateau, although it may be stuck in neutral on Thursday.

The global outlook for Asian markets is murky and could be dictated by earnings news, though tech stocks appear to be under pressure regardless. European markets were up and US stock markets were mixed and Asian markets seem to be following the latter lead.

The SET ended slightly higher on Wednesday as gains in financials were capped by weakness in energy producers.

For the day, the index rose 4.73 points or 0.28% to end at 1,680.35 after trading between 1,675.58 and 1,685.90. The volume was 21.360 billion shares worth 69.123 billion baht. There were 921 declines and 652 gains, with 606 stocks remaining unchanged.

Among assets, Advanced Info added 0.47%, while Thailand Airport fell 0.37%, Asset World lost 0.40%, Banpu strengthened 1.72%, Bangkok Bank collected 0.74% , Bangkok Dusit Medical gained 0.95%, Bangkok Expressway gained 0.60%, BTS Group lost. 0.55%, Energy Absolute rose 0.28%, Gulf improved 0.51%, Kasikornbank climbed 3.28%, Krung Thai Bank fell 1.50%, Krung Thai Card rose climbed 1.28%, PTT fell 0.66%, PTT Exploration and Production fell 2.30%, Siam Commercial Bank soared 10.88%, Siam Concrete rose 0.83%, True Corporation fell 1.21%, TTB Bank jumped 3.10% and CP All Public, Charoen Pokphand Foods, IRPC, PTT Oil & Retail, PTT Global Chemical and SCG Packaging remained unchanged.

Wall Street’s lead is mixed as the Dow Jones opened higher on Monday and stayed that way, the NASDAQ opened lower and stayed in negative territory and the S&P opened higher but fell late into the red.

The Dow Jones jumped 249.59 points or 0.71% to end at 35,160.79, while the NASDAQ fell 166.59 points or 1.22% to close at 13,453.07 and the S&P fell 2.76 points or 0.06% to end at 4,459.45.

A sharp drop in Netflix (NFLX) shares weighed on NASDAQ, with the streaming giant dropping 35.1% to its lowest closing level in four years after the company announced the loss of 200,000 subscribers to the first trimester. On the other hand, the continued rise of the Dow reflects the strong gains of IBM Corp. (IBM) and Procter & Gamble (PG).

Late in the day, the Federal Reserve released its Beige Book, which indicated that US economic activity has grown at a moderate pace since mid-February. Consumer spending accelerated among retail and non-financial services businesses as Covid-19 cases declined across the country.

In US economic news, the National Association of Realtors released a report showing that sales of existing homes fell further in March.

Crude oil prices edged higher on Wednesday after data showed a drop in U.S. crude inventories last week. Worries over supplies from Russia and disruptions in Libya also pushed oil prices higher. West Texas Intermediate crude oil futures for June rose $0.14 or 0.1% to $102.19 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.

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