Thailand’s Stock Exchange is positioned for a rebound on Tuesday after sliding lower in the previous session despite breaking a four-day losing streak.
The Stock Exchange of Thailand closed Monday at 1,453.03, sitting just above the key 1,450-point plateau where analysts expected renewed buying interest to emerge.
The SET index dropped 10.39 points, or 0.71 percent, on Monday after trading in a range between 1,449.73 and 1,464.12 throughout the session.
Volume came in at 10.990 billion shares worth 45.979 billion baht, with 246 decliners outnumbering 225 gainers while 187 stocks finished unchanged.
Losses from the food, property, service and technology sectors weighed on the market, though consumer, finance, resource and industry companies provided some offsetting support.
Among notable movers, PTT Global Chemical surged 5.21 percent and BTS Group rallied 5.15 percent, while PTT soared 3.01 percent and Bangkok Bank jumped 1.69 percent.
On the downside, Thai Oil plummeted 5.68 percent, Charoen Pokphand Foods tanked 2.18 percent, and Energy Absolute tumbled 1.92 percent during Monday’s session.
The global forecast for Asian markets turned positive following a sharp decline in oil prices, with European and U.S. markets both finishing higher and setting an optimistic tone.
West Texas Intermediate Crude oil futures for December plunged $4.40, or 6.1 percent, to $67.38 a barrel after Israel avoided hitting Iranian oil facilities over the weekend, easing supply disruption concerns.
On Wall Street, the Dow rallied 273.17 points or 0.65 percent to finish at 42,387.57, while the NASDAQ gained 48.58 points or 0.26 percent to close at 18,567.19.
The S&P 500 added 15.40 points or 0.27 percent to end at 5,823.52, with markets buoyed by the significant drop in energy prices driving broader confidence.
Traders were also watching ahead for key U.S. economic data releases later in the week, including the monthly jobs report and a personal income and spending report.
The personal income and spending report carries particular significance as it includes the Federal Reserve’s preferred inflation readings, which markets watch closely for rate signals.
The data is expected to shape expectations regarding how quickly the Fed will move to lower interest rates, adding another layer of focus to an already busy week for investors across Asian markets.
