Thai Stock Market Due For Support On Friday

The Thai stock market has moved lower in four straight sessions, slumping almost 40 points or 2.8 percent in that span. The Stock Exchange of Thailand now sits just above the 1,375-point plateau although it’s looking at a firm lead for Friday’s trade.

The global forecast for the Asian markets is upbeat, with technology and oil companies expected to lead the way higher. The European and U.S. markets were up and the Asian bourses are expected to follow that lead.

The SET finished slightly lower on Thursday as losses from the financials and industrials were mitigated by support from the food and technology companies.

For the day, the index slid 2.72 points or 0.20 percent to finish at 1,377.93 after trading between 1,374.08 and 1,387.53. Volume was 21.832 billion shares worth 50.995 billion baht. There were 243 gainers and 223 decliners, with 184 stocks finishing unchanged.

Among the actives, Advanced Info improved 0.94 percent, while Thailand Airport added 0.41 percent, Asset World surrendered 1.99 percent, Banpu surged 3.15 percent, Bangkok Bank tanked 2.03 percent, Bangkok Dusit Medical was down 0.92 percent, Bangkok Expressway plunged 1.31 percent, B. Grimm and True Corporation both advanced 0.95 percent, CP All Public weakened 1.40 percent, Charoen Pokphand Foods shed 0.54 percent, Energy Absolute slumped 1.89 percent, Gulf skidded 1.10 percent, Kasikornbank retreated 1.53 percent, Krung Thai Bank stumbled 1.66 percent, Krung Thai Card climbed 1.18 percent, PTT Oil & Retail lost 0.54 percent, PTT perked 0.75 percent, PTT Exploration and Production dropped 1.01 percent, PTT Global Chemical sank 0.71 percent, SCG Packaging tumbled 1.55 percent, Siam Concrete fell 0.37 percent, Thai Oil jumped 1.92 percent, TTB Bank collected 0.63 percent and Siam Commercial Bank and BTS Group were unchanged.

The lead from Wall Street is positive as the major averages opened mixed on Thursday but all ended up firmly in the green by the day’s end.

The Dow advanced 201.94 points or 0.54…