Thai Shares May Find Traction On Tuesday

The Thai stock market has ticked lower in back-to-back sessions, giving away just 5 points or 0.3 percent in that span. The Stock Exchange of Thailand now rests just beneath the 1,575-point plateau although it may stop the bleeding on Tuesday.

The global forecast for the Asian markets offers little clarity, with renewed weakness in crude oil prices weighing on investors. The European and U.S. markets were mixed but little changed and the Asian markets figure to follow that lead.

The SET finished modestly lower on Monday following mixed performances from the financials and the energy producers.

For the day, the index sank 3.70 points or 0.23 percent to finish at 1,574.09 after trading between 1,572.61 and 1,582.69. Volume was 6.989 billion shares worth 31.690 billion baht. There were 682 decliners and 418 gainers, with 425 stocks finishing unchanged.

Among the actives, Advanced Info dropped 1.06 percent, while Thailand Airport skidded 2.56 percent, Banpu shed 0.63 percent, Bangkok Expressway added 0.67 percent, Charoen Pokphand Foods climbed 1.22 percent, Kasikornbank lost 0.99 percent, Krung Thai Bank collected 0.54 percent, PTT gained 0.53 percent, PTT Global Chemical dipped 0.36 percent, Siam Commercial Bank jumped 0.96 percent, Siam Concrete fell 0.78 percent and PTT Exploration and Production, Bangkok Bank and Bangkok Medical were unchanged.

The lead from Wall Street is cloudy as stocks meandered slightly back and forth across the unchanged line Monday before ending mixed.

The Dow shed 8.02 points or 0.04 percent to 21,629.72, while the NASDAQ added 1.97 points or 0.03 percent to 6,314.43 and the S&P eased 0.13 points or 0.01 percent to 2,459.14.

In economic news, the Federal Reserve Bank of New York said that activity in the New York manufacturing sector grew at a slower pace in July.

On the political front, a new national survey showed that the Trump administration faces significantly declining approval as it hits the six-month mark. Trump’s approval rating fell…

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