Bargain Hunting May Boost Thai Stock Market

The Thai Stock market has finished lower in three straight sessions, sinking almost 30 points or 1.8 percent along the way. The Stock Exchange of Thailand now sits just beneath the 1,490-point plateau although it’s expected to open higher on Tuesday.

The global forecast for the Asian markets is mixed with a touch of upside as ambiguity continues to reign in the Middle East. The European markets were mixed and the U.S. bourses were slightly higher and the Asian markets figure to split the difference.

The SET finished modestly lower on Monday following losses from the food, finance, property, resource, service and technology sectors.

For the day, the index sank 11.07 points or 0.74 percent to finish at 1,489.29 after trading between 1,483.95 and 1,509.86. Volume was 9.214 billion shares worth 61.489 billion baht. There were 322 decliners and 166 gainers, with 171 stocks finishing unchanged.

Among the actives, Thailand Airport declined 0.98 percent, while Asset World tumbled 1.87 percent, Banpu lost 0.86 percent, Bangkok Bank collected 0.31 percent, Bangkok Expressway stumbled 1.85 percent, B. Grimm contracted 0.72 percent, CP All Public gained 0.57 percent, Energy Absolute slid 0.75 percent, Gulf tanked 2.08 percent, Kasikornbank climbed 1.03 percent, Krung Thai Bank sank 0.76 percent, Krung Thai Card slumped 0.84 percent, PTT Oil & Retail advanced 0.81 percent, PTT Exploration and Production advanced 1.01 percent, PTT Global Chemical added 0.65 percent, SCG Packaging shed 0.80 percent, Siam Commercial Bank fell 0.38 percent, Siam Concrete slipped 0.43 percent, Thai Oil skidded 1.06 percent, True Corporation retreated 1.39 percent, TTB Bank dropped 0.88 percent and Charoen Pokphand Foods, Advanced Info, PTT, Bangkok Dusit Medical and BTS Group were unchanged.