Thai Shares Predicted To Open In The Green

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(RTTNews.com) - The Thai stock market has climbed higher in consecutive trading days, advancing almost 15 points or 0.9 percent along the way. The Stock Exchange of Thailand now rests just above the 1,800-point plateau and it may see additional support on Wednesday.

The global forecast for the Asian markets is mixed and flat, with continued bargain hunting after recent weakness likely to provide mild support. The European markets were down and the U.S. markets were up and the Asian markets figure to split the difference.

The SET finished barely higher on Tuesday as gains from the financial shares were offset by weakness from the energy producers.

For the day, the index was up 0.58 points or 0.03 percent to finish at 1,800.03 after trading between 1,797.29 and 1,806.11. Volume was 9.704 billion shares worth 53.849 billion baht. There were 775 decliners and 547 gainers, with 428 stocks finishing unchanged.

Among the actives, Advanced Info climbed 1.03 percent, while Thailand Airport spiked 1.85 percent, Banpu shed 0.47 percent, Bangkok Bank lost 0.49 percent, Bangkok Expressway skidded 1.33 percent, Krung Thai Bank jumped 1.02 percent, PTT Exploration and Production tumbled 1.30 percent, PTT Global; Chemical dipped 0.27 percent, Siam Commercial Bank collected 0.34 percent and PTT, Bangkok Medical and Kasikornbank were unchanged.

The lead from Wall Street is cautiously optimistic as stocks shrugged off a lower open to tick slightly higher on Tuesday, extending the upward move in the two previous sessions.

The Dow added 39.18 points or 0.16 percent to 24,640.45, while the NASDAQ advanced 31.55 points or 0.45 percent to 7,013.51 and the S&P rose 6.94 points or 0.26 percent to 2,662.94.

The rebound came as traders looked ahead to reports on consumer prices and retail sales on Wednesday. The data may have a significant impact on how the Federal Reserve will act regarding future interest rate hikes.

Crude oil futures were steady Tuesday, but unable to recoup recent losses. Analysts point to a surge in U.S. shale oil production as the cause of oil"s retreat from 4-year highs above $66. WTI light sweet oil for March was down 0.2 percent at $59.19/bbl.

Closer to home, the central bank in Thailand will wrap up its monetary policy meeting later today and then announce its decision on interest rates. The central bank is widely expected to keep its benchmark lending rate steady at 1.50 percent.

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