The Thai stock had ended higher in four straight sessions, gaining nearly 20 points or 1.2 percent along the way. The Thai Stock Exchange is now just below the 1,610 plateau, although it may run out of strength on Tuesday.
The global forecast for Asia markets is flat or slightly higher, with declining fears of a recession offset by concerns about interest rates. European markets were slightly higher and US stocks were mixed and little changed and Asian markets split the difference.
The SET ended slightly higher on Monday after gains in financial stocks and energy producers.
For the day, the index added 7.78 points or 0.49 percent to end at 1,608.87 after trading between 1,589.62 and 1,608.88. Volume was 18.255 billion shares worth 63.266 billion baht. There were 960 decliners and 722 gainers, with 521 stocks ending unchanged.
Among assets, Advanced Info added 0.50 percent, while Thailand Airport rose 0.35 percent, Asset World advanced 1.00 percent, Banpu retreated 1.56 percent cent, Bangkok Bank rose 1.12 percent, Bangkok Dusit Medical fell 1.85 percent, B. Grimm strengthened 1.29 percent, BTS Group gained 0.58 percent, CP All Public improved 1.25 percent, Charoen Pokphand Foods picked up 0.81 percent, Energy Absolute rose 2.74 percent, Gulf rose 2.05 percent, IRPC accelerated 2.41 percent, Kasikornbank rose 1.70 percent, Krung Thai Bank collected 1.70 percent, Krung Thai Thai Bank collected 2 percent. 0.43 percent, PTT rose 2.82 percent, PTT Exploration and Production rose 1.99 percent, PTT Global Chemical rose 1.10 percent, SCG Packaging rose 0.45 percent, Siam Commercial Bank rose 3.38 percent, Siam Concrete rose 1.09 percent, Thai Oil declined 1.96 percent, Corporation fell 0.80 percent, TTB Bank up 1.71 percent and Bangkok Expressway and PTT Oil & Retail were unchanged.
Wall Street’s upside offers little guidance as the major averages failed to hold on to solid early gains, eventually hugging the line and finishing mixed.
The Dow rose 29.07 points or 0.09 percent to end at 32,832.54, while the NASDAQ fell 13.10 points or 0.10 percent to end at 12,644.46 and the S&P 500 fell 5.13 points or 0.12 percent to close at 4.06.14.06 points.
Wall Street’s early strength extended a recent uptrend; Easing worries about a potential recession may have helped the continued move higher after much stronger than expected jobs data last week.
However, buying interest eased throughout the session as strong employment data raised the likelihood of another 75 basis point interest rate hike by the Federal Reserve next month .
Traders may also have been reluctant to make significant bets ahead of the release of closely watched US inflation data this week.
Crude oil prices recovered from early losses and settled sharply higher on Monday as data showed a significant increase in oil purchases by China so far this month. West Texas Intermediate crude futures for September settled up $1.75, or 2 percent, at $90.76 a barrel.
Closer to home, Thailand will see the July results of its consumer confidence index later today; in June, the index score was 41.6.
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