Thai Stock Market May Crack Resistance At 1,300 Factors

(RTTNews) – The Thai stock market bounced larger once more on Monday, one session after it had ended the four-day profitable streak during which it had surged nearly 70 factors or 5.7 %. The Stock Change of Thailand now rests simply above the 1,285-point plateau and it may add to its winnings on Tuesday.

The worldwide forecast for the Asian markets is broadly constructive on hopes for a Covid-19 vaccine. The European markets had been sharply larger and the U.S. bourses had been combined and the Asian markets determine to separate the distinction.

The SET completed sharply larger on Monday with beneficial properties throughout the board – notably from the monetary shares and power producers.

For the day, the index jumped 25.80 factors or 2.05 % to complete at 1,285.88 after buying and selling between 1,277.52 and 1,293.90. Quantity was 26.810 billion shares worth 77.886 billion baht. There have been 1,034 gainers and 675 decliners, with 337 stocks ending unchanged.

Among the many actives, Superior Data added 2.87 %, whereas Thailand Airport gained 2.64 %, Asset World jumped 4.94 %, Bangkok Bank shed 0.47 %, Bangkok Dusit Medical superior 2.21 %, Bangkok Expressway accelerated 3.51 %, BTS Group rallied 4.30 %, Charoen Pokphand Meals climbed 3.77 %, Central Pattana skyrocketed 11.39 %, Gulf improved 4.65 %, Kasikornbank rose 0.31 %, Krung Thai Bank collected 1.64 %, PTT perked 2.21 %, PTT Exploration and Manufacturing gathered 1.51 %, PTT World Chemical soared 3.93 %, Siam Industrial Bank gained 1.43 %, Siam Concrete surged 3.14 % and TMB Bank was up 1.09 %.

The lead from Wall Street is combined as stocks skyrocketed to open Monday earlier than giving floor because the day progressed and completed on reverse sides of the unchanged line.

The Dow surged 834.57 factors or 2.95 % to complete at 29,157.97, whereas the NASDAQ plummeted 181.45 factors or 1.53 % to finish at 11,713.78 and the S&P 500 jumped 41.06 factors or 1.17 % to shut at 3,550.50.

The early rally on Wall Street got here following upbeat outcomes from a part Three examine of the coronavirus vaccine being developed by Pfizer (PFE) and BioNTech (BNTX).

The vaccine information added to constructive sentiment generated in response to the weekend’s information that Democratic candidate Joe Biden’s is projected to win the presidential election.

Nonetheless, President Donald Trump has refused to concede the race, alleging widespread voter fraud with no proof and launching authorized challenges in a number of key states.

The NASDAQ’s slide got here as merchants moved cash out of tech stocks that benefited from the coronavirus pandemic.

Crude oil costs rose sharply Monday as constructive information a couple of potential coronavirus vaccine outweighed experiences displaying spikes in new infections. West Texas Intermediate Crude oil futures for December ended up $3.15 or 8.5 % at $40.29 a barrel.

The views and opinions expressed herein are the views and opinions of the writer and don’t essentially replicate these of Nasdaq, Inc.