Thailand’s stock market is expected to rebound again on Wednesday

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(RTTNews) – Thailand’s stock market headed south again on Tuesday, a day after snapping a five-day losing streak in which it fell nearly 30 points or 1.9%. Thailand’s stock market is now just below the 1,535-point plateau, although it is expected to rebound again on Wednesday.

The global forecast for Asian markets is bullish on bargain hunting and optimism ahead of earnings season. European and American markets were up sharply and Asian exchanges are expected to open similarly.

The SET ended slightly lower on Tuesday following losses in financial stocks and a mixed picture from energy producers.

For the day, the index slipped 11.38 points or 0.74% to end at 1,533.43 points or 0.74% after trading between 1,520.77 and 1,541.55. The volume was 18.027 billion shares worth 57.674 billion baht. There were 1,194 declines and 474 gains, with 443 stocks remaining unchanged.

Among assets, Advanced Info fell 1.46%, while Thailand Airport fell 0.71%, Asset World lost 0.40%, Banpu gained 0.78%, B. Grimm fell 1 .99%, BTS Group lost 0.57%, CP All Public fell 0.81%, Charoen Pokphand Foods plunged 3.95%, Energy Absolute fell 1.56%, Gulf fell 3.11%, Kasikornbank fell 1.42%, Krung Thai Card slipped 0.92%, PTT Oil & Retail fell 1.92%, PTT fell 0.72%, PTT Exploration and Production and IRPC both climbed 1.27%. %, PTT Global Chemical gained 0.57%, SCG Packaging fell 1.85%, Siam Commercial Bank fell 4.20%, Siam Concrete fell 0.27%, Thai Oil jumped 1, 50%, TTB Bank weakened by 1.74% and Bangkok Bank, Bangkok Dusit Medical, Bangkok Expressway, Krung Thai Bank and True Corporation remained unchanged.

Wall Street’s advance is broadly positive as major averages opened higher on Tuesday and only accelerated as the day progressed.

The Dow Jones jumped 754.44 points or 2.43% to end at 31,827.05, while the NASDAQ jumped 353.10 points or 3.11% to close at 11,713.15 and the S&P 500 jumped 105.84 points or 2.76% to end at 3,936.69.

Wall Street’s rebound came as optimism about upcoming earnings fueled a strong wave of buying.

In earnings news, toymaker Hasbro (HAS) and oil services giant Halliburton (HAL) beat the street, while IBM Corp. (IBM) and Johnson & Johnson (JNJ) provided disappointing guidance.

In economic news, the Commerce Department unexpectedly reported a continued decline in housing starts in June.

Crude oil futures ended sharply higher on Tuesday amid signs of tighter supply in the global oil market, while continued weakness in the dollar also contributed to the sharp rise in oil prices. West Texas Intermediate crude oil futures for August ended up $1.62 or 1.6% at $104.22 a barrel.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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