The rally could stagnate for the Thai stock market

(RTTNews) – Thailand’s stock market has advanced in back-to-back sessions, reaping almost 30 points or 1.8% along the way. The Stock Exchange of Thailand is now just above the plateau of 1645 points, although it could run out of steam on Friday.

The global forecast for Asian markets suggests a slight consolidation on geopolitical concerns and inflation fears. European and US markets were down and Asan exchanges are expected to open similarly.

The SET ended slightly higher on Thursday as gains by energy producers were limited by weakness in the financial sector.

For the day, the index rose 3.44 points or 0.21% to end at 1,647.08 after trading between 1,643.39 and 1,659. Volume was 30.284 billion shares of worth 100.156 billion baht. There were 1,009 gains and 865 declines, with 524 stocks remaining unchanged.

Among assets, Advanced Info lost 0.43%, while Asset World climbed 1.24%, Banpu plunged 3.42%, Bangkok Bank fell 0.74%, Bangkok Dusit Medical jumped 1.63%, Bangkok Expressway strengthened 1.16%, B. Grimm rebounded 2.36%, BTS Group added 0.54%, CP All Public fell 0.38%, Energy Absolute gained 0.89%, Gulf gained 1.05%, IRPC jumped 2.25%, Kasikornbank fell 1.57%, Krung Thai Bank collected 0.74%, Krung Thai Card improved 1.24% , PTT Oil & Retail increased by 0.40%, PTT Exploration and Production increased by 0.34%, PTT Global Chemical accelerated by 2.56%, SCG Packaging increased by 1.37%, Siam Commercial Bank increased by fell 1.29%, Siam Concrete rose 1.34%, True Corporation fell 0.40%, TTB Bank lost 0.76% and Thailand Airport, Charoen Pokphand Foods and PTT remained unchanged.

Wall Street’s lead is weak as major averages opened lower on Thursday and remained in the red throughout the session.

The Dow Jones lost 112.18 points or 0.34% to end at 33,174.07, while the NASDAQ fell 125.58 points or 0.95% to close at 13,129.96 and the S&P 500 fell. lost 18.36 points or 0.43% to end at 4,259.52.

Wall Street’s early weakness reflected lingering concerns over the Russian invasion of Ukraine, as peace talks between the countries yielded little progress on key issues.

In economic news, the Labor Department noted a continued acceleration in the annual rate of growth in U.S. consumer prices in February, reaching its highest rate since January 1982. A separate Labor Department report showed a modest increase in initial jobless claims last week.

Crude oil prices fell on Thursday after news that Russia will meet its contractual obligations, helping to ease concerns about supply disruptions. West Texas Intermediate crude oil futures for April settled at $106.02 a barrel, down $2.68 or 2.5% from the previous close.

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