Mild Upside Seen For Thai Stock Market

The Thai stock market on Wednesday halted the two-day slide in which it had stumbled more than 25 points or 1.7 percent. The Stock Exchange of Thailand now sits just above the 1,380-point plateau and it may tick higher again on Thursday.

The global forecast for the Asian markets is mixed to higher and will be dependent on earnings news. The European markets were up and the U.S. bourses were mixed and the Asian markets figure to split the difference.

The SET finished sharply higher on Wednesday with gains across the board, especially the food, finance, industrial, property, resource, service and technology sectors.

For the day, the index jumped 24.65 points or 1.82 percent to finish at 1,381.19 after trading between 1,354.98 and 1,382.80. Volume was 22.592 billion shares worth 53.773 billion baht. There were 408 gainers and 82 decliners, with 154 stocks finishing unchanged.

Among the actives, Advanced Info rose 0.47 percent, Airport of Thailand improved 1.69 percent, Asset World skyrocketed 5.41 percent, Bangkok Bank fell 0.34 percent, Bangkok Dusit Medical jumped 1.83 percent, Bangkok Expressway added 0.68 percent, Banpu increased 0.78 percent, B Grimm soared 6.86 percent, BTS Group spiked 3.01 percent, Charoen Pokphand Foods soared 4.09 percent, CP All Public rallied 2.42 percent, EA Energy rallied 4.08 percent, Gulf gained 0.57 percent, Kasikornbank collected 0.83 percent, Krung Thai Bank climbed 1.23 percent, Krung Thai Card surged 5.29 percent, PTT Oil & Resource jumped 2.21 percent, PTT perked 0.74 percent, PTT Exploration and Production gathered 0.68 percent, PTT Global Chemical accelerated 2.94 percent, SCG Packaging spiked 2.42 percent, Siam Commercial Bank added 0.48 percent, Siam Concrete improved 1.12 percent, Thai Oil strengthened 1.43 percent, True Corporation surged 6.36 percent and TTB Bank was unchanged.

The lead from Wall Street suggests mild upside as the major averages opened higher on Wednesday and largely stayed that way, although the Dow…