Thai Stock Market May Run Out Of Steam On Tuesday

(RTTNews) - The Thai stock market has tracked higher in three straight sessions, advancing more than 50 points or 4.1 percent along the way. The Stock Exchange of Thailand now sits just beneath the 1,210-point plateau although investors may lock in gains on Tuesday.

The global forecast for the Asian markets offers little clarity as investors wait and see what happens with tariff deadlines. The European and U.S. markets were mixed and little changed and the Asian bourses are expected to open in similar fashion.

The SET finished slightly higher on Monday as gains from the financials, properties and resource stocks were offset by weakness from the food and industrial sectors.

For the day, the index perked 1.55 points or 0.13 percent to finish at 1,208.13 after trading between 1,199.54 and 1,217.83. Volume was 8.683 billion shares worth 43.213 billion baht. There were 224 gainers and 215 decliners, with 210 stocks finishing unchanged.

Among the actives, Advanced Info fell 0.34 percent, while Thailand Airport and Banpu both declined 1.28 percent, Asset World spiked 1.96 percent, Bangkok Dusit Medical dropped 1.40 percent, Bangkok Expressway gained 0.92 percent, B. Grimm improved 0.86 percent, BTS Group lost 1.14 percent, CP All Public accelerated 1.58 percent, Charoen Pokphand Foods retreated 1.30 percent, Energy Absolute rallied 2.13 percent, Gulf slumped 1.67 percent, Kasikornbank collected 0.31 percent, Krung Thai Bank advanced 0.94 percent, Krung Thai Card spiked 2.70 percent, PTT Oil & Retail sank 0.79 percent, PTT strengthened 1.56 percent, PTT Exploration and Production increased 0.85 percent, PTT Global Chemical tumbled 1.78 percent, SCG Packaging skidded 1.13 percent, Siam Commercial Bank jumped 1.68 percent, Siam Concrete climbed 1.06 percent, Thai Oil surged 5.00 percent, True Corporation stumbled 1.80 percent, TTB Bank added 0.53 percent and Bangkok Bank was unchanged.

The lead from Wall Street is uninspired as the major averages opened solidly higher on Monday but ebbed throughout the session before ending mixed and little changed.

The Dow sank 19.12 points or 0.04 percent to finish at 44,323.07, while the NASDAQ gained 78.52 points or 0.38 percent to close at a fresh record 20,974.17 and the S&P 500 rose 8.81 points or 0.14 percent to end at 6,305.60 - also a record.

The early strength on Wall Street reflected optimism about potential trade deals, with Commerce Secretary Howard Lutnick saying he is confident the U.S. will reach an agreement with the European Union.

Buying interest waned over the course of the session, however, as traders looked ahead to the release of earnings news from several big-name companies this week, including Google parent Alphabet (GOOGL), Tesla (TSLA) and Intel (INTC).

On the U.S. economic front, a report released by the Conference Board showed its reading on leading U.S. economic indicators fell by slightly more than expected in the month of June.

Crude oil prices slipped on Monday as investors seem concerned that heavy tariffs could block international trade and reduce demand for oil and energy. West Texas Intermediate crude for August delivery dipped $0.11 to $69.17 per barrel.