Little Movement Anticipated For Thai Stock Market

The Thai stock market headed south again on Tuesday, one day after ending the two-day slide in which it had slipped more than a dozen points or 0.8 percent. The Stock Exchange of Thailand now sits just beneath the 1,375-point plateau and it’s called rangebound again on Wednesday.

The global forecast for the Asian markets is uncertain ahead of the FOMC’s rate decision and statement later today. The European markets were up and the U.S. bourses were mixed and the Asian markets figure to follow the latter lead.

The SET finished slightly lower on Tuesday as losses from the financials, properties and service stocks were offset by support from the food and technology sectors.

For the day, the index slipped 3.14 points or 0.23 percent to finish at 1,373.14 after trading between 1,370.70 and 1,378.34. Volume was 20.167 billion shares worth 42.508 billion baht. There were 242 decliners and 224 gainers, with 182 stocks finishing unchanged.

Among the actives, Advanced Info added 0.46 percent, while Thailand Airport slid 0.41 percent, Asset World lost 0.50 percent, Banpu plunged 2.31 percent, Bangkok Bank sank 0.70 percent, B. Grimm advanced 0.91 percent, BTS Group plummeted 9.02 percent, Charoen Pokphand Foods surged 3.30 percent, Energy Absolute soared 2.55 percent, Gulf gained 0.57 percent, Kasikornbank fell 0.41 percent, Krung Thai Bank retreated 1.23 percent, Krung Thai Card skidded 1.11 percent, PTT Oil & Retail fell 0.55 percent, PTT declined 0.45 percent, PTT Exploration and Production tumbled 2.01 percent, SCG Packaging improved 0.79 percent, Siam Commercial Bank dropped 0.95 percent, Siam Concrete shed 0.74 percent, Thai Oil climbed 0.92 percent, True Corporation declined 0.84 percent and TTB Bank, PTT Global Chemical, CP All Public, Bangkok Dusit Medical and Bangkok Expressway were unchanged.

The lead from Wall Street offers little guidance as the major averages opened lower on Tuesday; the Dow turned higher and finished in the green, while the NASDAQ remained under…