FX.co ★ Win Streak May Continue For Thai Stock Market

The Thai stock market has experienced gains for four consecutive sessions, amassing nearly 15 points, or approximately 1 percent. The Stock Exchange of Thailand currently stands just above the 1,455-point level, and it is anticipated to open positively again on Thursday.

The forecast for Asian markets is optimistic, largely due to positive sentiment regarding interest rate projections. European and U.S. markets posted gains, and it is expected that Asian exchanges will follow this trend.

On Wednesday, the Stock Exchange of Thailand ended with moderate gains as the resources and technology sectors saw increases, counterbalanced by declines in the industrial and finance sectors. Specifically, the index added 4.17 points, or 0.29 percent, concluding at 1,456.97, after fluctuating between 1,453.33 and 1,460.33 throughout the session. The trading volume reached 15.492 billion shares, valued at 49.383 billion baht. There were 270 stocks declining, 216 advancing, and 177 remaining unchanged.

Among the active stocks, Advanced Info saw a gain of 0.75 percent, whereas Thailand Airport decreased by 0.78 percent. Asset World rose by 1.09 percent. Banpu fell sharply by 2.88 percent, Bangkok Bank decreased by 0.32 percent, and Bangkok Dusit Medical saw an uptick of 0.84 percent. B. Grimm increased by 1.75 percent, BTS Group decreased by 0.88 percent, and CP All Public improved by 0.38 percent. Charoen Pokphand Foods fell by 1.20 percent, Energy Absolute increased by 1.71 percent, and Gulf surged by 5.56 percent. Krung Thai Bank increased by 0.48 percent, PTT Oil & Retail decreased by 1.18 percent, PTT fell by 0.74 percent, PTT Exploration and Production decreased by 1.48 percent, and PTT Global Chemical fell by 0.86 percent. SCG Packaging declined by 5.83 percent, Siam Concrete decreased by 0.41 percent, Thai Oil fell by 1.46 percent, True Corporation rose by 1.82 percent, TTB Bank increased by 1.07 percent, while Kasikornbank, Siam Commercial Bank, Krung Thai Card, and Bangkok Expressway remained unchanged.

From Wall Street, the outlook is positive. Major averages began the day flat but rose steadily, closing near session highs. The Dow surged by 431.63 points, or 1.03 percent, closing at a record 42,512.00. Meanwhile, the NASDAQ rose by 108.70 points, or 0.60 percent, finishing at 18,291.62, and the S&P 500 gained 40.91 points, or 0.71 percent, ending at a record high of 5,792.04.

The rally on Wall Street was buoyed by the release of minutes from the Federal Reserve's September meeting, which revealed a preference among most members for a larger rate cut. This has spurred optimism about future cuts.

In economic updates, the U.S. Commerce Department reported that the trade deficit narrowed to $70.4 billion in August from a revised $78.9 billion in July. Economists had expected a decrease to $70.6 billion compared to the initially reported $78.8 billion for the prior month.

Regarding the oil market, crude oil prices declined on Wednesday. This drop was attributed to a significant rise in crude inventories, which overshadowed potential supply disruptions from Hurricane Milton and existing tensions in the Middle East. West Texas Intermediate Crude oil futures for November declined by $0.33, or 0.45 percent, settling at $73.24 per barrel.