The rally is expected to stagnate for the Thai stock market on Wednesday
(RTTNews) – Thailand’s stock market has risen in three straight sessions, rising more than 30 points or 1.9% along the way. The Stock Exchange of Thailand is now just below the plateau of 1,695 points, although it should run out of steam on Wednesday.
The global forecast is strongly negative due to growing concerns over the Russian invasion of Ukraine. European and US markets were down sharply on Tuesday and Asian markets are expected to open similarly.
The SET ended slightly higher on Tuesday following the mixed performance of financial stocks and energy producers.
For the day, the index gained 9.10 points or 0.54% to end at 1,694.28 after trading between 1,690.82 and 1,701.69. The volume was 27.575 billion shares worth 91.815 billion baht. There were 1,089 gains and 741 declines, with 534 stocks remaining unchanged.
Among assets, Advanced Info rose 3.49%, while Thailand Airport fell 1.95%, Asset World jumped 6.25%, Banpu climbed 3.67%, Bangkok Bank fell 2.14%, Bangkok Dusit Medical rose 0.42%, Bangkok Expressway lost 0.56%, BTS Group climbed. 1.05%, Bumrungrad Hospital accelerated 6.19%, CP All Public gained 0.37%, Charoen Pokphand Foods slipped 0.99%, Energy Absolute rose 0.26%, Gulf gained 0.99%, IRPC fell 1.05%, Kasikornbank slipped 0.31%, Krung Thai Bank fell 1.43%. percent, Krung Thai Card gained 0.79 percent, Osotspa climbed 5.67 percent, PTT Oil & Retail jumped 1.94 percent, PTT fell 1.27 percent, PTT Exploration and Production gained 0.73 percent, PTT Global Chemical fell 1.42 percent, SCG Packaging improved 0.82 percent, Siam Commercial Bank collected 0.80 percent, Siam Concrete lost 0.51 percent, True Corporation added 4.00% and TTB Bank was unchanged.
Wall Street’s lead is weak as major averages opened lower on Tuesday and saw losses accelerate as the day progressed before closing firmly in the red.
The Dow Jones fell 597.65 points or 1.76% to end at 33,294.95, while the NASDAQ fell 218.94 points or 1.59% to close at 13,532.46 and the S&P 500 fell 67.68 points or 1.55% to end at 4,306.26.
Wall Street’s weakness came as selling continued unabated amid growing concerns about the likely economic impact of the ongoing Russian-Ukrainian conflict and tough sanctions imposed on Russia by the United States and several Western countries.
According to reports, Russian rockets hit the center of the Ukrainian city of Kharkiv and a long line of tanks was heading towards Kiev.
In US economic news, construction spending posted a bigger-than-expected gain in January, while the ISM manufacturing PMI for February also beat forecasts.
Crude oil prices rose sharply on Tuesday as an escalation in the ongoing Russian-Ukrainian war and a series of sanctions imposed on Russia raised concerns about global oil supplies. West Texas Intermediate crude oil futures for April ended up $7.69 or 8% at $103.41 a barrel, the highest settlement since July 2014.
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