Thai Bourse May Extend Thursday’s Gains

The Thai stock market bounced higher again on Thursday, one day after it had snapped the two-day winning streak in which it had surged almost 40 points or 2.5 percent. The Stock Exchange of Thailand now rests just above the 1,615-point plateau and it may add to its winnings on Friday.

The global forecast for the Asian markets is broadly positive thanks to solid economic data and a surge in the price of crude oil. The European and U.S. markets were up and the Asian markets are expected to follow that lead.

The SET finished slightly higher on Thursday following mixed performances from the financial shares and the energy producers.

For the day, the index added 2.82 points or 0.17 percent to finish at 1,616.16 after trading between 1,607.78 and 1,616.80. Volume was 8.743 billion shares worth 53.062 billion baht. There were 681 gainers and 517 decliners, with 447 stocks finishing unchanged.

Among the actives, Advanced Info shed 0.27 percent, while Thailand Airport lost 0.46 percent, Banpu jumped 1.15 percent, Bangkok Bank skidded 0.81 percent, Bangkok Medical fell 0.48 percent, Bangkok Expressway slipped 0.64 percent, Charoen Pokphand Foods spiked 2.83 percent, Kasikornbank tumbled 1.95 percent, PTT dipped 0.75 percent, PTT Exploration and Production retreated 0.28 percent and Siam Commercial Bank, Krung Thai Bank and PTT Global Chemical were unchanged.

The lead from Wall Street is firm as stocks moved higher on Thursday, adding to the gains posted in the two previous sessions.

The Dow rose 59.92 points or 0.3 percent to 21,952.35, while the NASDAQ jumped 60.35 points or 1 percent to 6,428.66 and the S&P 500 climbed 14.02 points or 0.6 percent to 2,471.61.

The strength followed a slew of economic data, including a Commerce Department report noting a bigger than expected gain in personal income. And the National Association of Realtors showed an unexpected fall in pending home sales in July.

Also, the Labor Department said first-time claims for U.S. unemployment benefits edged slightly higher in the week ended August 26th. And MNI Indicators noted continued growth in Chicago-area business activity in August.

Crude oil futures surged Thursday, rebounding after the U.S. Energy Department’s release of 1 million barrels a day from the Strategic Petroleum Reserve after Hurricane Harvey disrupted refinery operations on the Texas coast.

October West Texas Intermediate rose $1.27 or 2.8 percent to $47.23 a barrel on the New York Mercantile Exchange. Still, oil was down 6…

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